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Web Extra: Debt Drama in Europe? Think Teva

Companies driven by secular growth might be one of few havens in this wild market, Cramer said Thursday.

These stocks should work whether there are debt defaults in Europe or not. In fact, one company, Teva Pharmaceuticals , should even benefit from the continent’s troubles.

Cramer thinks that European governments will put a major focus on generic drugs in order to save money and help cut into that debt. And given that Teva is the world’s largest generic drugmaker, as measured by both total and new prescriptions, the company should see a sizable uptick in business.

“So when you hear all the frightening headlines about trouble in Athens or Lisbon,” Cramer said, “maybe you should think ‘buy Teva.’”

Not to mention, between 2010 and 2013 an expected $40 billion worth of branded drugs are supposed to come off patent, making another huge opportunity for a company that earnings 70% of its revenues from generics. And that’s before Teva’s $5 billion acquisition of Ratiopharm, Germany’s number-two generics player, which will increase the company’s generics exposure and boost earnings.

Teva reported a great quarter on Tuesday, beating the Street’s earnings estimates by 2 cents a share and delivering a jump in revenues of 16% from the year before. And get this: It came during the company’s seasonally slowest quarter of the year. Cramer thinks that with the stock down $3 from his April 7 recommendation, the price for Teva looks very right.

But to learn more about the quarter and the company’s prospects, he invited Teva North America CEO Bill Marth onto Mad Money. Watch the video for the full interview.

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