Investors obliterated shares of Allergan earlier in the week, sending the stock down more than 10% in a single session. Was the stock oversold?
Jim Cramer can't help but wonder.
In a market moving interview with David Pyott, the chairman and CEO of Allergan, Cramer was first to learn that the FDA voted in favor of the company's new volumizing filler called Voluma, an anti-aging treatment that recontours the face to restore volume to the chin, cheeks, cheekbones, and temples.
Pyott told Cramer that in other areas of the world where the drug has already been introduced it was received with great enthusiasm. Familiar with the research, Cramer agreed that, "It has the potential to be a meaningful treatment."
And as a long time fan of the stock, the Mad Money host added that, "I think this confirms that Allergan is a great company with terrific management."
The late breaking development came just hours after the company released disappointing data on two other drugs, "one for for macular degeneration and a second for baldness," Cramer explained.