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Valeant CEO will listen if there's 'inbound interest' in core businesses

Chairman and CEO Joseph Papa told CNBC on Thursday he would "have to listen at this time" if there is "inbound interest" in some of Valeant Pharmaceuticals' core businesses.

Shares of the embattled pharmaceuticals company fell as much as 7.9 percent Thursday after Morgan Stanley downgraded the stock to equal weight from overweight. In a note, the firm said it was incorrect in its August thesis that the debt-ridden company's business would stabilize and asset sales would enhance value. Papa said in an exclusive interview on CNBC's "Closing Bell" that he would consider selling some of Valeant's core businesses and assets, against the wishes of some of the company's major shareholders.

"We, as you know, have some significant amount of debt — we have $30 billion of debt. I always said that we're going to build around...