Celgene (CELG) Provides Great Opportunity in Health Sector - Cramer
Tweet
Share
E-mail
Get Alerts CELG Hot Sheet
Join SI Premium – FREE
Celgene (Nasdaq: CELG) is looking fit ahead of the opening bell today, following bullish comments from stock aficionado Jim Cramer.
Cramer said that health stocks should be a great place for growth opportunities, but many established companies are facing patent problems, meaning that choosing a winner would be tough.
On Celgene, Cramer thinks that there is growth potential through its pipeline and solidarity from its established products currently on the market, like Revlimid. What's more is that Celgene has been the second-best performer on the S&P 500 over the last 15 years, gaining 8,936 percent over the period.
Cramer spoke with Celgene CEO Hugin, and Hugin said Celgene is on the verge of capitalizing on a decade of focused R&D. Looking ahead to 2012, Hugin commented that Celgene has about 25 pivotal or Phase III trials in the works, and it will have a formidable solid tumor franchise established in about one year.
Hugin then gave a nod to Abraxane, saying it had multi-billion potential, and believes that Celgene has at least three or four other drugs that could perform as well.
On expansion, Hugin is looking to Japan and China in the coming months, hoping to bring Revlimid and other drugs to the countries.
Celgene is also "opportunistic" on M&A, and could add more to its accelerated its buyback program. Hugin said the next 18-months could be "transformational" for Celgene.
Shares are up 0.4 percent pre-market.
Cramer said that health stocks should be a great place for growth opportunities, but many established companies are facing patent problems, meaning that choosing a winner would be tough.
On Celgene, Cramer thinks that there is growth potential through its pipeline and solidarity from its established products currently on the market, like Revlimid. What's more is that Celgene has been the second-best performer on the S&P 500 over the last 15 years, gaining 8,936 percent over the period.
Cramer spoke with Celgene CEO Hugin, and Hugin said Celgene is on the verge of capitalizing on a decade of focused R&D. Looking ahead to 2012, Hugin commented that Celgene has about 25 pivotal or Phase III trials in the works, and it will have a formidable solid tumor franchise established in about one year.
Hugin then gave a nod to Abraxane, saying it had multi-billion potential, and believes that Celgene has at least three or four other drugs that could perform as well.
On expansion, Hugin is looking to Japan and China in the coming months, hoping to bring Revlimid and other drugs to the countries.
Celgene is also "opportunistic" on M&A, and could add more to its accelerated its buyback program. Hugin said the next 18-months could be "transformational" for Celgene.
Shares are up 0.4 percent pre-market.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lowe's (LOW) PT Lowered to $275 at Guggenheim
- These 25 S&P 500 stocks saw the largest increase in institutional ownership in Q2
- PSEG Launches Community Impact Update, Highlights Statewide Community Presence with $12.8 Million in Corporate and Foundation Giving and $16.3 Billion Economic Output in 2025
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
Jim Cramer, Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
