Abraxane may be yet another catalyst.
"They've gotten positive phase 3 clinical trial results showing this drug can help with pancreatic cancer and metastic melanoma—the really bad kind of skin cancer. With these two new indications, Celgene sees Abraxane sales going to $1.5 billion by 2015. And the pancreatic cancer indication alone could ultimately be worth $2 billion in peak sales," Cramer explained.
Also a drug called Apremilast could also generate tailwinds.
"The drug has shown positive phase 3 trial results for psoriasis and psoriatic arthritis. Celgene plans to file a new drug application with the FDA for both indications sometime in the first half of the year—so this could be a very big catalyst, especially as the drug could ultimately generate $3 billion in peak sales," Cramer said.
But it's not just the promising therapies alone that draw Cramer to this stock.
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"I think it has among the best management in the business under the leadership of CEO Bob Hugin. Hugin is bankable."
Also Cramer likes the metrics.
"Celgene believes it can earn between $13 and $14 in 2017. Even at the low-end of the range, we're talking about a stock that's trading at just 8.6 times its earnings in the outyears."
All told, Cramer is impressed.
"Even with the stock at $112 and change, three points off its high, the darned thing is still only selling for 16 times next year's earnings estimates. I think it could have a lot more room to run," Cramer said