eli lilly. >> oh, there it is. it's back. what a way to end the show. i'm melissa lee thank you for watching. see you back here tomorrow at 5:00 for more but anywhere, "ma with jim cramer begins right now. my mission is simply. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you money. my job isn't just to entertain but to teach you. call me at 1-800-743-cnbc. or tweet me #jimcramer. when something happens that isn't supposed to happen, there are big repercussions for the stock market.
there have been unexpected positives that are forcing big institutional investors off the sidelines even if the average didn't do much today, dow gaining 47 points, s&p inch up, nasdaq advancing. people didn't see what i'm about to talk about coming. and it's really changing the landscape. first, i don't know many who look back at the last week and august and thought we saw a surge in activity in the use. but if you look, you'll see something uncanny among all the charts of the industrials and all tech stocks. you'll see a bottom. that's right. those stocks, which have been pretty much in free fall for most of the summer if not the spring, started their pivot right then, at the end of august. i've been over and over that period, trying to figure what the heck changed the economy to turned those stocks around.
the answer: not much at all. if anything, we caught another leg of delegal raciieseceleratd. the dollar? no. the earnings? nothing. they were almost uniformly bad. no, there was only one noticeable market input that week. when it happened, it was universally pooh-poohed as phony. what happened? the chinese stock market stopped going down. that's right. that was the difference. right here is the turn in our industrials, our old tech, and our oils. try as we may to relate the shanghai composite to anything, given its obvious phoniness and emphasis on so many companies
that no one has heard of that are china-based, the shanghai has held through a torrent of chinese bad news. that 3,000 level, above 2,027, has held. i remember when that level was first under attack by sellers. it seemed like child's play to take it out. there had only been 23 days when the averages had gone up since the chinese stock market peaked on june 12th. almost every single uptick was met by multiple days of selling. since that bottom, half the days have been up, some meaningful. even though i don't know a soul willing to claim a bottom in the shanghai, after four separate blitzes, there will be plenty of
imboldened bulls. you'll see a correlation that is more than a little startling and clearly not a coincident. there's a second almost surreal data point that occurred two days before that chinese bottom. oil stopped going down. the newfound paper of record, "business insider," captured the moment with its headline: crude collapses to a stunning new low at 38. this price didn't seem like a bottom either. in fact 15 days later, goldman sachs called for $20 a barrel as its price target. that caused shudders throughout the industry. oil never came near that august 24th bottom. again, i'm not sure it will, at least not in this down cycle. of course we don't know whether china or oil had more of an impact on the industrials. ch which one did it? we do know the oils bottomed
right then. the partnerships had margin calls at the end of the quarter which may have thrown bottom feeders for a loop. there's been no correlation with the high tech stocks. it's the cyclical stocks that are roaring back, not the growth plays. the high growth camp might want to argue that these groups bottomed simultaneously with the rotation. but it didn't fit. the high gross stocks didn't start rolling over until late september. the majority of commentators throw you off. it's so easy to blame the fed for anything. they might argue that we got a bottom because of bullard who said he was sanguine about the u.s. stock market and stock markets worldwide, helping to create the mini crash. that doesn't correlate with the
charts either. technicians might claim that the friday afternoon comments about being sanguine on serious satellite fits the bill. i still regard it as a serious breakdown in the system, not a test in stocks. you can call it a coincident, as far as i'm concerned. to me it's all about oil and china. which makes for a more compelling view of what happens happening right now. the hitherto unremarkable trading in oil should be viewed for what it is, the moment when many of the large independents were able to avoid catastrophe. ever since that bottom in oil, the weak ones have fallen. the stronger players have gotten stronger. that's why i'm doing a series all week about what to buy into the oil weakness i'm expecting. china is the most compelling story. it occurred the same weekend when tim cook, the ceo of oil, told the world in an e-mail to yours truly that apple's
business was strong in china, similar to calls from nike and starbucks. pizza hut threw us off course last week with a hideous earnings number. but the positive opening of the chinese stock market fits the thesis. so does the data released yesterday showing a much stronger spending level in the people's republic. i thought it would be the talk of the town. it would suggest the bottom of the chinese stock market spurred spending. and china has a lot of consumers. the big ugly metals also haven't bottomed as yet in part because of the miners haven't caught up. we've had the troubled glencore, which is now selling assets, including a zinc mine, scaling back copper production. the baltic freight index has no
bottom in sight. alcoa's comments last week indicate things are still in flux there. the industrial oil stock bottom and the old tech bottom is unmistakable. it's gone unheralded because nobody believes the chinese bottom was hit yet. we got ryder preannouncements, that wasn't good, and fmc preannounced, that wasn't good. however i think we won't have a big rollover. i believe both bottoms will be tested but lasting. anyone who has participated in the oil industrial rotation will get run over if they don't circle back to these stocks. the people buying into the anemic packaged goods rally could turn out to be right. it's possible there's a peak in oil at 50 bucks, not to mention a peak in earnings in the
industrials themselves. i'm saying the industrial trends could be real. these things have all been straight up. maybe this is the pause that refreshes. if i'm right, it bodes very well for the rest of the year and will cause radical rethinking like the general electrics to the schlumbergers. think intel, ibm, microsoft, the deal dell struck with inexpensive emc this weekend is further validation that the value portion of this market remains on fire. the bottom line, gentlemen, start your engines, because the old tech have spotted some points ahead of the race. and they may take it all when it comes to the rest of 2015. let's go to phil in north carolina. >> caller: hey, jim, how are you doing? thanks for taking my call. i'm coming into some money.
i want to spend some of it on gold and silver, maybe 15, 20,000. what do you think? >> i was going over with the key technicians of gld. i'm a believer in gld. i think you just put it in gld, put up to 10% in there and i will bless it. stocks themselves are not that good in gld. let's go to jamie in ohio. >> caller: cramer, how about a fall is in the air booyah to you. >> all right. sounds realistic. >> all right. so hey, during the recent pullback we saw a lot of blue chip dow companiesed about accidental dividend high earnings. what about chevron and caterpillar? >> i think chevron's dividend will be safe. i expect the stock to give up
half that gain. but i want you to buy it. caterpillar i'm much less certain on. they've got to see some sort of upturn in their business, for heaven's sake. i'm calling it. i think there's a bottom in the chinese slowdown. tomorrow begins the real test for the industrials, the old techs, and the oils. remember, i'm making these calls because i think the market's coming in. not because i think it's going higher. i want a buy week. on "mad money" tonight, many thought helen of troy was losing her looks in this market. why beauty is in the eye of the beholder when it comes to this stock. and eli lily plummeted today. could this be the chance to buy? and crude oil rallied last week but took a let today. i'm revealing when plays could be worth considering. you're not going to want to miss it.
why don't you stick with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, #madtweets. send jim an e-mail to firstname.lastname@example.org or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. when a moment spontaneously turns romantic, why pause to take a pill? and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms
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my name is jamir dixon and i'm a locafor pg&e.rk fieldman most people in the community recognize the blue trucks as pg&e. my truck is something new... it's an 811 truck. when you call 811, i come out to your house and i mark out our gas lines and our electric lines to make sure that you don't hit them when you're digging. 811 is a free service. i'm passionate about it because every time i go on the street i think about my own kids. they're the reason that i want to protect our community
and our environment, and if me driving a that truck means that somebody gets to go home safer, then i'll drive it every day of the week. together, we're building a better california. in an uncertain market, where it's difficult to know which stocks to trust, it's important to remember the power of your conviction. what do i mean by conviction? simple. when you believe in a high quality company and hold on to its stock, even when it hits a little bump in the road or goes out of style momentarily in the wall street fashion show, you'll be rewarded for being steadfast when everyone else is being schizophrenic. consider helen of troy, a little company that sells consumer products and housewares.
they license a bunch of brands from other companies, all household names. you've seen them at every drugstore, at target. helen of troy has been flying, some 50% since late june when i came out and told you this stock was still worth owning. the company reported a series of quarters that sent its stocks soaring into the stratosphere. it felt like the stock that launched a thousand buy orders. then back on july 9th, helen of troy quickly seemed to lose her looks, as the company reported its first earnings loss in ages. it fell from 97 to 86 and change. a few weeks later i told you to stick with helen of troy, this stock was a keeper.
before, it's a keeper. after, it's a keeper. in mythological terms, nobody who gets with helen never seems to live very long. in stock terms, it was a lonely call to make, everybody was giving up on it because of one little earnings miss. everyone except for us. although we took the usual social media hit for anything we do that's not 100% right at that moment. fast forward to today, it's up nicely. i reiterate my recommendation of july 18th. helen of troy has soared to 102 in the wake of a fabulous quarter the company reported last thursday. what a move. the move was absolutely gettable. and i know that because if you listened to me when everybody else was giving up on helen, you would have gotten it. you need to be willing to look at the evidence objectively without looking at the turbulent share price action, which is
often wrong. you need to make a rational decision. step away. you throw away your conviction, and you miss out on terrific rallies like this one. that happens time and time again. how did we notice it? why didn't we abandon our conviction like so many people who sold the stock on a weakness? like i told you back then, the real reason helen of destroy got hammered was because the expectation of analysts were out of control, not because the fundamentals were in a downturn. the analysts raised their predictions dramatically. but no company can keep up that kind of trajectory forever. eventually the analysts get ahead of themselves. the company actually reported a pretty solid quarter, but because the expectations were so great and the company failed to meet those new expectations, that's why the stock got crushed. beyond that, after helen's
little earnings miss, many people on the buy side and the sell side, the analysts and the actual customers, thought it would be much harder for the company to meet or beat the full year forecast going forward. now, there were a lot of weak-handed investors who seemed to own helen of troy because it could deliver an endless string of earnings beats. that all got wiped out when the company disappointed. but i told you to double down on the stock because i like the fundamentals. i like what they did. i liked the company's story and wasn't going to quit on it. helen has a long history of making smart acquisitions to take market share in a lot of categories where it already has market space in stores. they squeeze additional value out of these brands, not unlike jordan. maybe it's a mini-jordan.
on top of that, helen of troy has made itself more efficient. i also like that helen of troy gets 80% of its sales from the u.s., which means it's not hostage to those same currency issues that have plagued its competitors. helen of troy maintained its sales and earnings guidance. they were every bit as confident as they had been before that. so we were. that was the important signal to keep believing. if you had conviction before and liked the stock in the high 90s, you should have loved it after it got pummelled and went down to the 80s, because nothing in the story had changed. consider household names like
clorox. they're good companies, but this has got good growth, it's a good, solid company too. even though helen of troy missed the numbers in july, overnight it became an incredibly compelling value play. and because the underlying value didn't change. sure enough, our conviction paid off and it did so pretty rapidly, because when helen of troy reported again thursday night, the company was back in form, with spectacularly better than expected numbers, posting a magnificent 41 cent earnings increase. it was the same old helen of troy, even better. the company actually raised their sales and earnings forecasts. no wonder the stock shot up 7 percent. this latest quarter is proof that helen of troy still has a lot more room to grow.
it's only up a couple from july. it's darn cheap, when those other stocks in that cohort have gone higher. the next time a company you have a lot of confidence in gets knocked off his perch because it hits a little speed bump and disappoints analysts who have gotten overly exuberant. just remember helen of troy. if you bought the stock in the weakness after it disappointed in july, you've now got a terrific gain. and i think there's much more upside to come. helen of troy is looking better than ever, except to the pani r panicers who should have known better. much more "mad money" ahead. eli lilly faced some pressure today. should you give the company a chance? then, if you haven't paid attention in the past two weeks to the markets, with energy
helping lead the averages higher, i'm pointing out which plays could be worth considering after the $2 decline in the price of crude. plus biotech stock exchange have been under fire. should you be buying an orphan drug maker? i have the exclusive with the ceo. stick with cramer. ♪ today, we're seeing new technologies
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there are no gifts in this unforgiving environment, where bear markets, like those in the industrials, morph into bull markets. periodically you'll get a stock that plummets and gives you a chance to buy it at a discount, just when you least expect it, frankly. today's monster decline of eli lily is an example. just as we've seen a stampede of the market into industrials, we've seen a selloff of darlings out there, anything biotech, anything big pharma. the value stocks within these groups have tried to mount a co come back. only one had serious traction until today, that's eli lily. the traction ended when lily
halted a phase iii trial for a new cardiac drug. shareholders frantically dumped the stock, showing you just how fearful people are. the performance of this entire sector. but eli lily's stock was never up in the high 80s because of this particular drug. it had been the best performing old pharma stock because of antidiabetes drug and solenezemab. it showed a significant reduction in nonfatal heart attacks and strokes. these results came out of
nowhere. they were a very big deal because it's the only diabetes drug out there with these properties. remember, it's already on the market. it doesn't have to be approved by the fda. it could generate $6 billion in sales. that's worth talking about. this drug's remarkable success comes on the heels of an lily anti-alzheimer's formulation that shows stunning function for 132 weeks, a significant gain over any other drug in the market. anything that can slow the onset of alzheimer's could be one of the biggest drugs ever, obviously. in the midst of these two blo blockbuste blockbusters, i've been waiting for lily to come down even a smidge after the announcement of those back to back blockbusters. here's the chance you've been waiting for. now the market has turned against high growth with drug stocks in particular getting slammed because of worries that their pricing structure could
come under attack by both parties during the impending election year. i plan to ask about it when we do our republican debate. i think lily with these two blockbusters would have the best chance to maintain its price stability even in this market. while the best of the drug and biotech cohort remains definitively in a bear market mode, that won't always be the case. today you have a fabulous chance to buy eli lily at a discount, one i'm telling you is definitely worth taking. stephen in new jersey. >> hey, jim. how do you feel about ptct therapeutics? and why do these companies get killed? >> this is a wholesale retreat out of high growth, out of industrial, into oil. and i think that before you see
ptc reverse, you're going to see big moves in amgen. they'll move first before a ptc. drugs and biotechs won't always be in bear market mode, people. they'll turn. the first stock i expect to turn is eli lily. much more "mad money" ahead. is the energy sector showing signs of life? i'm revealing. then a key look inside the biotech bear market. tell us right now about the future for these stocks. i'm going to talk to the ceo. and a manic monday edition of the lightning round. stick with cramer. (vo) rush hour around here
starts at 6:30 a.m. - on the nose. but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours.
crude today, i think the decline could be over, although the sector is tricky. i'm focusing on lower risk, high quality names that will let you sleep at night. with today's decline in crude, after a big run-up, you'll be getting some very good entry points in standout names innav a a variegated group. energy transfer partners, etp, is one of those master limited partnerships. why do i like energy transfer partners? not only does the stock pay a gigantic nearly 9%-year-old, tru -- 9% yield, truly magnificent, the stock is still down and is down almost 30% for the year.
i think it's a bargain. i think it could go down from here. that's why i'm doing this piece now. energy transfer partners has been crushed by a combination of forces. lower oil and especially lower natural gas prices, and fears the federal reserve will raise rates and make these high yielding mlps less attractive to bonds. damaged hedge funds had too much energy exposure and that really killed etp. natural gas has stabilized and oil has rebounded back to $47 and change. that means energy transfer partners deserves to go higher still. but that's just the tip of the iceberg. best of all, and a big reason, is that two weeks ago we learned that energy transfer equity, that's etp's parent company and general partner, is inquiring fellow pipeline titan williams,
down $38, in a deal that will create the third largest energy partnership in a decade. i have a totally different take. i think it's transformative to the mass limited partnership that i want you to own, because i want you to own etp. my view was heavily shaped by the analysis done by rbn energy, by far the most authoritative site for all things oil and gas related. i think their take on this transaction is brilliant. for those who are worried about owning any of the energy mlps after the carnage in so many of these stocks, please allow me to put you at ease for a moment. we know some of them were cash-strapped and absolutely obliterated. i've seen people trying to bash
etp by analogizing it to linn. linn is an oil producer. it's selling this stuff as stock prices with hardly any hedges at all. for a long time it was able to pay shareholders by acquiring other companies on the cheap and rolling them up. then the collapse in oil prices crushed linn's stock. of course linn is insanely levered to the price of crude, so it's no wonder it was obliterated. etp is in a totally different business. it's a pipeline company, for heaven's sake. so is williams, which they bought for less than they expected to say, because the entire slide in the industry gave them a real bargain. it takes a cut based on the volume of gas they transport, meaning they don't have direct exposure to commodity prices.
in other words, etp is nothing like linn at all. even after this williams deal, it will continue to have terrific access to capital, along with a safe distribution that i think has the ability to grow over time. as long as the natural gas keeps flowing, etp will keep doing just fine, especially as our company exports liquid gas by the end of the year. that's what's going to happen. the natural gas pipelines in this country are nearly 100% full because natural gas is so cheap. i don't like pipeline oil companies because so many are 50% utilized. let me walk you through the details. as a standalone energy, etp is one of the largest transporterers of the energy in the u.s., with 62,000 miles of pipelines. in combination with williams, though, the company gains precious scale along with access to new regions, something that will ultimately transfer energy
transfer partners from a regional player to national powerhouse. williams is mostly in that natural gas pipeline business. in fact williams has no exposure to oil whatsoever. we don't want it, because we have way too many pipes for oil and not enough for natural gas. the key is geography. this first picture, again, from rbn, shows you where etp's natural gas pipelines are. lots of concentration in the south, southeast, and midwest. they get the natural gas to where it's needed. check out the williams acquisition. another great map from rbn. blue lines are williams' natural gas pipelines. they'll give the company exposure. pretty much overnight etp goes from being a regional player to a national wide powerhouse with an a pipeline system that is no assess, particularly since this
has so much cheap natural gas. their respective pipelines are totally complementary, very little overlap. the northeast is particularly important because much of new england is still heated by oil. natural gas is much cheaper, cleaner to burn. this pipeline will supply a lot of this region when it's done. that's going to be a windfall. they've got a lot of opportunities for oil, housing units to switch to natural gas. there are a ton of positives including major synergies and cost savings, not to mention the benefits of being a pipeline company with national scale. i think etp will not only be able maintain its bountiful distribution but be able to raise it over the next 12 months. they raised distribution largely this quarter and can keep doing so. it has what's known as a coverage ratio, meaning the company pays enough cash to pay that distribution with a good bit left over. even though this company has so
much going for it, the stock remains absurdly cheap, because most people don't believe what i'm showing you. the analysts haven't been able to put these maps together, but these guys have. the shareholder base included troubled hedge funds that had to sell etp in order to meet redemption s from the clients. we know that they keep 20% of their assets in etp or its partner. energy transfer partners gets crushed no matter how good it is, no matter what they've done here. at the end of september we saw massive selling. why has it been able to rebound so quickly? i believe the forced selling is finished. that means we can focus on everything that's going right at etp. it will keep going right, although i do expect the stock to sink back to the low 40s. it's had too quick a move.
thanks to rbn energy and their smart analysis, i think etp is a most-own energy stock. etp is paying it away from that deal. that is so outsize. i think it should be no more than 8%. that translates into a $55 share price, or nine bucks above where it's currently trading. and that's a conservative price target. if it gets hit with current oil, even though it's natural gas, it's a better opportunity, kept down by being a part of a gigantic series of etfs that force all these companies, the bad and the good, to trade together. "mad money" is back after the break.
>> announcer: lightning round is sponsored by td ameritrade. [ bell ringing ] >> it is time. it is time for the lightning round. you say the name of the stock. i don't know the calls or the name of the stock ahead of time. i tell you whether to buy or sell. when you hear this sound -- [ buzzer ] -- then the lightning round is over. are you ready, skee-daddy? john in florida?
>> caller: hi, jim, booyah from sunny florida. >> all right. >> caller: i have a question on ryder. >> a local company that preannounced bad numbers after the close. i looked at it, we're close to rite ryder. we've had them on a couple of times. it's not necessarily weakness involving the country. let's go to joyce in texas. joyce? >> caller: jim, thank you very much for taking my call. >> of course. >> caller: my call is in regards to hasbro. i bought this stock and it ran all the way up to about $80. when i was watching your show, that was maybe about a week and a half ago, you said to take a little profit off. still hanging on. it closed today at $74.44. >> i was saying let's roll it to mattel. i like mattel's yield. hasbro has come down enough that it seems like disney in that it's going to get ready for
""star wars."" i'm not against owning it now that it's sold off. let's go to steven. >> caller: booyah, thank you for taking my call. i've been a long time caller and listenerer. i'm in a world of pain with vnaware. >> i wish i could help you of had i cannot recommend vmware. let's go to michelle in massachusetts. michelle. >> caller: it's michelle from cape cod. i'm calling to ask you about merck. i bought it at 56. should i hold or sell? >> unfortunately i have no catalyst. at one point today it was down because of eli lily, guilt by association. without a catalyst for merck, i don't know why i should pound the table for it. wally in ohio. >> caller: good evening, this is
wally world from toledo, ohio. >> how are you? >> caller: doing really good. i go back to the days of mark hain haines. >> the 20th anniversary of "squawk" coming up. we'll participate. what's going on? >> is boot made for walking? >> it is rather amazing. boot reported a great quarter. it happened to be caught up in the he found high growth going toward value. that's what killed it. i'm a buyer of boot. . that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td l about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement.
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. we know the whole biotech cohort has been slammed 22% by the recent political firestorm over drug prices. some biotechs have gotten hurt more than others, i think unfairly. let's take brn. they make drugs that treat diseases that would cost the health system more money. even though biotechs remain out of favor, this is a company with real prospects. they have five orphan drugs on the market, including three for a group of metabolic disorders,
a treatment for pku, and treatment for a rare autoimmune disease that causes muscle weakness. at the end of july they approved their treatment for muscular dystrophy. they have a bunch of orphan candidates that are facing trials. the news has been incredibly good, the company buying global rights for a couple of its orphan drugs from merck. let's check in with the ceo of biomarin pharmaceuticals. with just to "mad money." good to see you. >> good to see you again. >> first let's talk about the muscular dystrophy. to me this is a patent ruling. patent rulings tend to stand up. this could be huge for biomarin. >> already we had in 2011, as a company we acquired the rights
from a patent holder in europe. there is an issued patent in europe. this is an important one for us in the u.s. we have the freedom to operate around the world. and there is no existing intellectual property that we would need to commercialize the product. >> what does the purchase from merck give you? >> we're commercializing it, we have for eight years in north america, very successfully. i think for merck, it was not a strategic product. they're refocusing the company onnen colle oncology. >> we've got a debate coming up in october with the republican candidates. i intend to ask them how do they feel about drugs that cost $400,000. what would happen without your drugs to these people? >> i mean, we are treating
devastating -- most of the diseases are lethal. the patients would use a lot of healthcare resources that they're not using today thanks to our drug. it would be very bad news for those patients if these drugs were not available. >> why would you bother to do it if we didn't have legislation? >> that would reduce the incentive to develop these kind of drugs, no question about it. >> you have got in the pipeline, you have five commercial drugs already, nine in the clinic. which ones do you think next year we'll be talking about? >> we've got the product for muscular dystrophy. there is likely an advisory committee of the fda coming in late november to decide whether our product should be approved or not. we're looking forward to this meeting because we have a database of over 300 patients, over three years, in a randomized trial.
we're looking forward to a good discussion with the advisory committee on this drug. the drug that the fda has to make a decision is in december of this year. hopefully that will be a good decision, which would be great news for the patients and allow them to use this drug, because there is no approved therapy today for muscular dystrophy, a lethal disorder where boys, it only affects boys, lose their ability to walk by the age of 13. it's a terrible disease. >> you mentioned in your transcripts the genotype, how great it would be to know what our genes look like. you would have a much more successful rate if you knew, right? >> yes, it would allow -- the good value of genotyping from birth would be to allow patients to know right away if they have a significant disorder and to be treated earlier. the earlier you treat the patients, it's always better. back to muscular dystrophy, we started a month ago a new
initiative, we're providing a service to patients with muscular dystrophy to know which type they have. what we're introducing to the market is only for a specific mutation which affects only 13% of the patients. >> i'm asking you to put a little bit of a political hat on. do you think we're going to be talking about these drug pricing issues between now and the election? >> hopefully not. it's a great political hook. >> yes. >> yes. at the same time, for us, the world has not changed, since there's been some emphasis on drug pricing. one of the key issues has been more around old molecules are repurposed, which dramatically increases the process. this is not our business at all. we're the opposite of that. we only introduce drugs for which we do significant medical research. we have never increased the price of a drug except for
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