Published: Sat, December 16, 2017
Finance | By Loren Pratt

Apotex Founder Barry Sherman, Wife Found Dead in Toronto Home

Apotex Founder Barry Sherman, Wife Found Dead in Toronto Home

Pharmaceutical giant Barry Sherman and his wife Honey Sherman were found dead in a home in Toronto's York Mills neighbourhood on Friday afternoon, sources confirm.

They had recently put their $5.4 million (£4 million) up for sale and their bodies were discovered by a real estate agent in a basement.

He eventually sold the business and moved on to a new venture: Apotex Inc. He is estimated to be worth almost $5 billion and is believed to be the 15th richest person in Canada.

Sherman was born in Toronto, Canada in 1942 and was the youngest to ever enter into the University of Toronto's Engineering Science program at age 16.

According to CTV, Sherman was the chairman of generic drugmaker Apotex, which he founded in 1974.

Privately held Apotex says it is the largest Canadian-owned pharmaceutical firm, with annual sales of more than C$2 billion. He stepped down as chief executive in 2012, but remained as executive chairman.

The Shermans were known for their philanthropy and are survived by their four adult children.

Homicide investigators have joined the case, although Sherman and his wife's death has not been officially ruled as one.

Police gave few details and did not confirm the identities of the deceased.

'The circumstances of their death appear suspicious and we are treating it that way, ' said Constable David Hopkinson.

Police said later Friday evening that they are not now seeking any suspects but are keeping an open mind on all possibilities. The situation otherwise is the same.

"We will be getting a lot more answers tomorrow (Saturday) following the post-mortem examinations". "Deeply shocked & saddened to hear of the deaths of Barry & Honey Sherman. Our condolences to their family & friends, and to everyone touched by their vision & spirit".

Police have not released any names but the province's Health Minister Eric Hoskins, tweeted about the deaths writing "I am beyond words right now".

He also faced legal action, from family members who alleged they had been cut out of the company over the years.

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