Barry Sherman, 75, who ran the pharmaceutical giant Apotex, Inc., and his wife, Honey, 70, were found dead in their Toronto mansion Friday.
According to reports.,spokesperson for Apotex, the generic drug giant Sherman started, confirmed the couple’s deaths Friday. “All of us at Apotex are deeply shocked and saddened by this news and our thoughts and prayers are with the family at this time,” a spokesperson for the company stated in an email.
Police were called to the Shermans’ home in Toronto just before noon on Friday after two bodies — which turned out to be Sherman and his wife — were found in the basement.”the Globe and Mail report”.
Toronto Police spokesman Mark Pugash said Saturday the deaths are suspicious based on what they know, but offered no other details. Police earlier said there were no signs of forced entry and there was no outstanding suspect they were going after. The 75-year-old pharmaceutical magnate and his wife, Honey, 70, were found dead in their north Toronto mansion on Friday.
Sherman had been plagued by an ongoing family drama. In 2007, three of his cousins and the widow of a fourth filed a lawsuit against Sherman stating that he owed them $1 billion in damages and a 20% stake in Apotex. The reason? The cousins are the children of the late Louis Winter, who founded Empire Laboratories, the business Sherman acquired in 1967 after Winter’s death.
They claimed that they should have been paid royalties on four products over a 15-year period, and that they should have had the right to obtain employment through the company at 21 years old and a 5% stake in the company at 23 years old. The original suit was dismissed in 2015 by the court registrar, but was reinstated in 2016. In September an Ontario judge ruled in favor of Sherman, and the cousins appealed the decision.
“Homicide is working with 33 Division on this until we get the post mortem,” Pugash said. “When we get the post mortem result, that should give us a good indication of where the investigation goes from there.”
“The circumstances of their death appear suspicious and we are treating it that way,” Hopkinson said at a news conference held outside the couple’s home.
Hopkinson said the investigation was in its early stages and authorities “are inside investigating and taking apart the scene.”
Inspector Bryan Bott of the Toronto Police Service told the Toronto Sun that “at this time we are not searching for any suspects.”
Ontario health minister Eric Hoskins sent a tweet expressing shock at the death of his “dear friends,” whom he described as “wonderful human beings.”
“I am beyond words right now,” Hoskins wrote in his tweet. “Incredible philanthropists, great leaders in health care. A very, very sad day.”
Apotex, which raked in $1.9 billion last year, confirmed the Shermans’ deaths in a statement, and praised Barry Sherman for his innovation and commitment to the company’s mission of making drugs more affordable to patients.
Ontario health minister Eric Hoskins sent a tweet expressing shock at the death of his “dear friends,” whom he described as “wonderful human beings. “I am beyond words right now,” Hoskins wrote in his tweet. “Incredible philanthropists, great leaders in health care. A very, very sad day.”
Sherman founded Toronto-based Apotex Inc. in 1974 with two employees and turned it into the largest Canadian-owned pharmaceutical company. Canadian Business magazine recently estimated his worth at $4.77 billion (US$3.65 billion), making him the 15th richest person in the country.