TheStreet’s Jim Cramer says pharmaceutical company Hospira is an asset for any large conglomerate and Pfizer was smart to acquire it. Pfizer announced Thursday that it has agreed to buy Hospira for about $17 billion. Hospira is a leading provider of injectable drugs. Cramer says he’s been very critical of Pfizer in the past but this move will give Pfizer more value as it will expand its global portfolio. Cramer adds that there’s a lot of activity going on in the pharmaceutical space and the companies that buy are the companies that have stocks going higher. So what does that mean? Cramer says Johnson & Johnson and Merck should follow suit and keep buying.
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