Stocks may have closed broadly lower on Wednesday, but Cramer fave Allergan had reason to celebrate.
Allergan's stock a new 52-week high after reporting a fantastic quarter, the "Mad Money" host said. It delivered 77-cents of earnings per share, a 3-cent beat, on stronger than expected sales. The health care company makes well-known skin and eye care products, including Botox, Latisse and the Lap-Band.
Allergan has a “pipeline in a product strategy” that works, Cramer said, pointing to the company’s success with Botox. The drug was first approved by the U.S. Food and Drug Administration for aesthetic use and then approved for treating migraines. The company is working on using it for other conditions, like overactive bladder. What’s more, Cramer believes AGN has more growth potential as it rolls out its products in international markets.
To get a closer look at the latest news, Cramer spoke with Allergan CEO David Pyott. Watch the video to see the full interview.
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