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"Healthcare stocks have nothing to fear," Jim Cramer told viewers of his "Mad Money" TV show Thursday.

He reiterated his belief that the healthcare sector is the place to be given the current market conditions. He expects big money managers to flock to the historically recession-proof stocks and advised investors to get in ahead of the rotation.

Cramer recommended Hospira ( HSP) as his next investment idea in the group. Hospira, he said, is transforming itself from a boring drug delivery and medication management company into a faster growing, higher-margin oncology powerhouse.

Hospira was spun off by Abbott Labs ( ABT) back in 2004, and after a rocky start, Cramer said, the company is finally starting to gain some traction. The company has met or beat earnings expectations for the past seven quarters in a row, giving it a solid track record of results, he said.

Hospira is currently the No. 1 maker of specialty injectable pharmaceuticals, with 17% market share in the U.S. The company also has real potential for growth in Japan, where generic drug use by the government-run healthcare system accounts for only 16% of all drugs used, compared to 50% in the U.S.

Cramer is especially high on Hospira's injectable oncology division, after the company's purchase of Mayne Pharmaceuticals in February, 2006. This business, he said, provides Hospira growth that Wall Street has failed to notice.

Cramer: The Tide's Turned for Drug Stocks

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