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Want Growth? Cramer Points to This Stock

Wednesday, 8 Aug 2012 | 6:27 PM ET
Celgene's CEO: We're Investing for the Future
Mad Money host Jim Cramer explains why Celgene is resilient. "It's not just a short-term story, we're very positive about the momentum we have, but we're building for the long-term, too," says Celgene CEO Bob Hugin.

Even though playing it safe is always important in this volatile market environment, that doesn’t mean you have to avoid growth stocks, Jim Cramer said Wednesday.

“You can still own growth at a time when the world’s economies are slowing, in fact I insist on it,” the “Mad Money” host said. “You just have to be smart about it.”

Cramer recommended sticking with growth names that are disconnected from the global economy. As an example, Cramer pointed to biotech company Celgene, which reported strong quarterly results two weeks ago. He explained that its growth comes from its portfolio of anti-cancer drugs and its pipeline of new drugs in development.

The company also has proven its resiliency, Cramer said. Despite get slammed six weeks ago, after the company announced that it was withdrawing its European filing for Revlimid, its main blood cancer drug, it reported a terrific quarter on July 26th, and is now trading even higher than before.

To learn more, Cramer talked to the company’s CEO, Bob Hugin. Check out the video to watch the full interview.

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