Why Jim Cramer Likes Johnson & Johnson After Potential Coronavirus Vaccine Announcement

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Looking to invest in a company that has exposure to coronavirus--specifically, companies that are creating vaccines or testing?

Johnson & Johnson  (JNJ) - Get Report has said that it has identified a potential coronavirus vaccine, but testing will begin in September. 

And Abbott  (ABT) - Get Report announced a test that can give a positive test result fo the coronavirus in 5 minutes.

Jim Cramer weighed in on how investors can know when they should be investing in companies that are producing vaccines and tests against the coronavirus. 

Watch the full video above for more.

Video Transcript:

Katherine Ross:
Jim yesterday we talked about Abbott and we talked about J & J. Abbott is more of a now story, it's a testing story, but J & J is more of a, this drug could potentially be used, maybe 2021. They're starting trials in September. Based on that, when you're looking at it from an investment perspective, should you be going for the J & J's, which are promising longterm solutions down the line or should you be looking at Abbott's?

Jim Cramer:
...J & J I think it's more of a demonstration of their prowess that and their scale. They can do something. Alex Gorsky can put his mind to it and they can make something. We own J&J for Action Alerts PLUS...I feel fantastic about that. That's something that they had such conviction on, that it made me say, "You know what J & J, again, a reminder, great American company." Abbott Labs, great American company. What we recommend to club members is great American companies and they can choose which ones they like. It's a recommended list and they can choose. Apple is on there, but Broadcom which is now up 60 straight points from the last buy. That's on there. Abbott Labs is on there and why are they on there? Because in 30, let's say actually in 40 years of experience, I know which guys are the good guys and I know which ones are liable to come through and Alex Gorsky and J & J are part of the good guys and they're going to come through and I think that that's terrific stuff. Right here by the way, it's up 10 yesterday, I would still buy it.

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