Johnson & Johnson is hurdling past the asebestos scandal. 

The company made headlines after receiving approval from the Food and Drug Administration. 

The drug, which has been branded Spravato by Jonhson & Johnson (JNJ - Get Report) , is closely related chemically to ketamine, which often is used as a party drug with the nickname "Special K."

The FDA approved Spravato as a fast-acting treatment for patients who have failed to find relief with at least two antidepressants, the Associated Press reported. The drug will cost between $590 and $885 depending on the dosage and before various insurance discounts and rebates.

Jim Cramer said that the suicide epidemic is a serious issue. 

"Suicide is a terrible epidemic in this country," Cramer said. He continued to say that this is the first mental health drug in 40 years, so he expects a positive impact from the drug by next year.