TheStreet's Jim Cramer shared his thoughts on Valeant Pharmaceuticals (VRX) on the heels of his interview with the drugmaker's new chairman and CEO Joseph Papa.

Among the topics discussed during the interview on CNBC's Mad Money were why Papa joined Valeant, the company's debt of about $30 billion and Valeant's pipeline.

"He made a statement that makes me feel like well, he's done the due diligence, but....I worry about the need to roll back drug prices, I worry about the need to be able to five times their R&D" to get up to speed with Pfizer(PFE) - Get Report and Merck(MRK) - Get Report Cramer told TheStreet's Rhonda Schaffler on Tuesday.

"So I think there's a lot of work and I don't know if if anyone can figure it out,"  Cramer said.

"I think ultimately Valeant is not about what Joe Papa saw when he decided to come in," Cramer wrote on Real Money. "I think it is about what Valeant's competitors can do to a Valeant in disarray. We hear about the 22,000 hardworking people who toil at Valeant. But how about all of the hardworking people at Alcon, owned by Novartis(NVS) - Get Report , or The Cooper Cos.(COO) - Get Report , or Acuvue by Johnson & Johnson(JNJ) - Get Report? Do you think that these companies are standing still while Valeant's Bausch & Lomb tries to keep it together?" Cramer wrote.

On April 25, Laval, Quebec-based Valeant on April 25 announced the appointment of Papa, a former CEO of Perrigo(PRGO) - Get Report , as its new chief executive and chairman.

The company on April 29 made its delayed 10-K filing with the Securities and Exchange Commission. It restated its audited consolidated financial statements for the year ended Dec. 31, 2014. It also restated certain unaudited quarterly results in relation to the three months ended Dec. 31, 2014, the three months ended March 31, 2015, the six months ended June 30, 2015 and the nine months ended Sept. 30, 2015. The company revised certain unaudited results for the three months and nine months ended Sept. 30, 2014.

"The default under our senior note indentures arising from the failure to timely file the Form 10-K was cured in all respects by the filing of this Form 10-K," Valeant said in the April 29 announcement. "In addition, the Company remains in full compliance with its credit agreement."

Also on April 29, the company announced the nominees for election to its board at the annual meeting slated for June 14.

On Monday, the company said it plans to timely file its first-quarter SEC filing, on or before June 10.

Valeant shares were trading flat at $28.10 at 1:53 p.m. on Tuesday.