Canadian police initiate probe into suspicious deaths of billionaire couple
Barry Sherman of Toronto founded pharmaceutical firm, with wife Honey gave tens of millions to hospitals, universities, Jewish groups
TORONTO (Reuters) – Canadian police said they were investigating the mysterious deaths of Barry Sherman, founder of Canadian pharmaceutical firm Apotex Inc., and his wife, Honey, one of the nation’s wealthiest couples whose bodies were found in their mansion on Friday.
Police said they learned of the deaths after responding to a midday medical call at the Sherman’s home in an affluent section of northeast Toronto. Two bodies covered in blankets were removed from the home and loaded into an unmarked van on Friday evening.
“The circumstances of their death appear suspicious and we are treating it that way,” said Constable David Hopkinson. Homicide detectives later told reporters gathered outside the home that there were no signs of forced entry.
Barry Sherman donated C$50 million to the United Jewish Appeal, Toronto’s CityNews reported. He had also become an active fund-raiser for the Liberal party in recent years, and was criticized for holding a pay-for-access fund-raiser in August 2015 that included Prime Minister Justin Trudeau while being registered as a lobbyist, according to the news broadcaster.
Honey Sherman was a member of the board of the Baycrest Foundation and the York University Foundation, CityNews reported. She also served on the boards of Toronto’s Mount Sinai Hospital’s Women’s Auxiliary, the Simon Wiesenthal Center and the American Jewish Joint Distribution Committee.
Their neighbors, business associates and some of Canada’s most powerful politicians said they were saddened by the deaths.
“Our condolences to their family & friends, and to everyone touched by their vision & spirit,” Prime Minister Justin Trudeau wrote on Twitter.
Toronto Mayor John Tory said in statement he was “shocked and heartbroken” to learn of the deaths, noting that the couple had made extensive contributions to the city.
“Toronto Police are investigating, and I hope that investigation will be able to provide answers for all of us who are mourning this tremendous loss,” Tory said.
The Shermans recently listed their home for sale for nearly C$7m. ($5.4m.). A real estate agent discovered the bodies in the basement while preparing for an open house, the Toronto Globe and Mail reported, citing a relative.
The couple was known for their philanthropy, giving tens of millions of dollars to hospitals, universities and Jewish organizations, CBC reported.
“They were extremely successful in business, but also very, very giving people,” former Ontario premier Bob Rae told CBC. “It’s going to be a very, very big loss.”
Sherman, 75, founded privately held Apotex in 1974, growing it by introducing large numbers of low-cost generic drugs that took market share from branded pharmaceuticals. He stepped down as chief executive in 2012 but remained executive chairman.
Forbes has estimated Sherman’s fortune at $3.2 billion.
Apotex is the world’s No. 7 generic drugmaker with 11,000 employees and annual sales of more than C$2b. in more than 45 countries, according to its website.
Meanwhile, Israel’s Teva Pharmaceutical Industries Ltd. has filed a lawsuit against a former senior employee, claiming that she revealed commercial secrets of the company during a romantic relationship with the CEO of Apotex.
According to a report on legal website Law360, Teva told a federal court in Pennsylvania that the employee, Barinder Sandhu, who worked in compliance in the US, passed commercial secrets to her partner, Jeremy Desai, CEO Apotex, which competes with Teva in North America.
According to the report, Sandhu disclosed to Desai information about product development at Teva. Teva claims that Apotex used this information to develop its own products, giving it an unlawful commercial advantage.