According to People magazine, the actor said: "I had some reservations. Me and my team seemed a little too excited about the deal and not quite excited enough about the merits of the execution. But at that point I was bulletproof. I was the guru of all genre movies."

Reflecting on the movie's failure at the box office, he said: "I finished the Marvel contract and then hastily went into what had all the promise of being another big, fun, well-executed potential franchise in 'Dolittle'."

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Despite being a box office bomb, Downey Jr. considers 'Dolittle' as one of the most important movies he's ever done, saying that 'Dolittle' was among the "two most important films I've done in the last 25 years" because the film "was a two-and-a-half-year wound of squandered opportunity" in terms of its lost franchise potential.

Describing why the movie was an important one for him, the actor said that moving forward the movie would help him choose his projects more carefully.

"After that point -- what's that phrase? Never let a good crisis go to waste," he said.

"We had this reset of priorities and made some changes in who our closest business advisers were," Downey Jr. added.

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