On tonight’s MAD MONEY show on CNBC, Cramer reviewed what the state of the stent market will be.
There is a meeting Thursday at the FDA where the FDA is going to make a recommendation or decision on stents and the approval of them. Cramer thinks that stents will stay and the FDA may either ask for more data or just make token comments.
Both Boston Scientific (BSX) & J&J (JNJ) have been down on the possibility that an FDA decision “could” go against them. Cramer said that BSX is the riskier of the two because it has more business leveraged, and JNJ has diversified mush of its operations. Cramer prefers BSX for a trade, but warned again that this has risks.BSX traded up almost 4% today to $16.56, but traded up another 0.9% to$16.70 after Cramer discussed this.
By the way, Cramer left off two important companies here. SurModics (SRDX) provides the stent polymer coating for J&J and Angiotech (ANPI) makes the stent polymer coating for Boston Scientific. Those would both be very leveraged, with more downside if FDA pans the stent markets.
Jon C. Ogg
December 5, 2006
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