Jim Cramer: Funny, And "Fact Free" -- on SGP! (Schering-Plough)

This is a time-waster, really -- of scant moment, as no one believes Jim Cramer's take on his neighbor's pharma company, any longer (and, lest we forget -- in September 2008, even he didn't believe his own take, any longer). In any event, here's a little "best of" list, I've cobbled together:

. . . .Jim Cramer said:

July 21, 2009: Schering-Plough CEO Fred Hassan came to the company "when the stock was around $15, $16 and swore that he would make money for you," Cramer said. "He tied up with Merck, and a lot of people felt that maybe that was a mistake." But Cramer said that the stock is up 10 points -- "a pretty good price." "During a period when the drug stocks have been absolutely terrible," Cramer said, Hassan "deserves our plaudits. . . ."

[Ed. Note: No, Jim -- he swore he would "turn it around", and "stay independent". He did neither, Jim. But he is your neighbor -- so I understand why you can't see the truth.]

September 3, 2008 -- NYSE Close $19.16: Mad Mail - Schering-Plough: Although Cramer felt bad about selling Schering-Plough, he stood by his comments on Tuesday's show that the negative press surrounding the company will limit any upside. . . .

January 24, 2008 -- NYSE Close $19.76: Now that they're down, buy . . . Schering-Plough (SGP Quote), Jim Cramer said on CNBC's "Stop Trading!" segment Friday. . . . Just so you know, I just issued an alert. . . . You should buy it here (around $19.75)," he said of the cosponsors of Vytorin, which made headlines today after the Food and Drug Administration said it would issue early communication on the drug. He's reminded of Bausch and Lomb, Bristol-Myers Squibb and other pharmaceutical companies that experienced exaggerated stock-price dives on bad news. Those situations, Cramer said, represented buying opportunities. "The headline risk in drugs is also far worse," Cramer said. "This is what happens with drug stocks. Everyone panics at the same time. They get knocked all the way down." "This is just unbelievable to me," Cramer added, saying that to cut shares of Schering-Plough so much, investors would have to believe the FDA was going to pull Vytorin. . . . This is a classic headline overreaction. . . ."

[Ed. Note: FDA didn't "pull 'em"; but Schering-Plough fell all the way down to $13.47, and saw its US market share, for those drugs, fall 46 percent, in under a year and a half.]

December 17, 2007 -- NYSE Close $26.44: Cramer's Take: Buy This Stock Now:

Schering-Plough's selloff today signifies an important one-time buying opportunity, says Jim Cramer. . . .

[Ed. Note: Apparently, not. . . . That is about where it closed tonight, and Cramer sees that as a "plaudit-deserving performance" -- when he felt it was "severely undervalued" at this same level a bit ago.]

Hilarious. Something more weighty, soon. I promise.