Apotex reportedly looking at sale as investigation of CEO death continues

Apr 08, 2019

Nearly a year and a half after the death of Apotex’s founder and CEO and his wife, the company is reportedly mulling a sale. 

According to Bloomberg, which cited anonymous sources close to the matter, the Canadian generic drugmaker has been in discussions with several interested parties about a deal that could be worth up to $3 billion. Apotex has yet to confirm the reports that it is looking for a buyer. 

The company has reportedly been exploring the new options amid an ongoing investigation into the death of its founder and CEO, Barry Sherman, who was found dead in his Toronto mansion alongside his wife. Sherman’s children have offered a $10 million reward for information in the case, but so far, it remains unsolved.  

Bloomberg reports that the company is now controlled by Sherman’s family, who accused police of mishandling Sherman’s investigation. 

Last year, the company, which owns operations in 45 countries, sold off facilities and infrastructure in five EU countries to Aurobindo Pharma, an Indian drug manufacturer, in a deal worth $83 million.

Read the full Bloomberg report.

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