Cramer interviewed the CEO (Robert Hugin) of Celgene (CELG-NASDAQ), one name he has been very positive on before. Cramer said many on the street think they are a one-trick pony with Revlimid, but the best is yet to come. The track record and opportunity is much larger for it. Europe is soon to open for it and they have 75 other trials they are starting for that brand alone. The CEO said this may make a huge difference in many cancer indications. They also have 6 other drug discovery programs ongoing now, including stem cells. Cramer said betting against is this is going to make the short sellers wrong.
If you have been watching this show long enough or just reading our take on this, then you’ll know he has been very positive on CELG many times. That’s why this one was not even up 1% after Cramer interviewed its CEO. CELG also has a $19 Billion market cap now and you’ll have to determine if you think the multiples are astronomical even for a high growth biotech on your own.
Jon C. Ogg
February 7, 2007
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