Jim Cramer on Why Johnson & Johnson's Anti-Depressant Is Important

Johnson & Johnson received FDA approval for a nasal spray designed to treat patients with depression.
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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.