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VIDEO: Michael Douglas Starts Chemo For Throat Cancer

Sep. 1 2010, Updated 9:30 a.m. ET

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Michael Douglas, fresh off his first week of radiation and chemotherapy after being diagnosed with stage-four throat cancer, told David Letterman on Tuesday's Late Show that he faces "an eight-week" struggle, but has an “80 percent” chance of recovering from the deadly disease.

Watch the clip on RadarOnline.com

"I've got cancer, found out about it about three weeks ago ... I just finished my first week of radiation and chemo, its gonna be an eight-week struggle,” Douglas said.

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Letterman told the Falling Down star, "You've never looked better to me, and this proves that you're a tough guy, for God's sakes."

Douglas, 65, said his throat had been bothering him earlier this summer, but doctors could not find the culprit at the time. He said upon returning form a European vacation, doctors located the cancer.

"The expectations of recovery are good," Douglas said, noting that he'd have to take some time off the promotional trail for his new film, Wall Street: Money Never Sleeps.

The appearance ended with an emotional exchange between the two, as Letterman told Douglas: "Wow, boy, I feel like I want to do something for you. Can I do something for you?"

Douglas said, "Ahh, give me a hug," and the duo embraced.

Wall Street: Money Never Sleeps hits theaters September 24.

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