Pharmaceutical giant Apotex, founded by Barry Sherman, agrees to takeover

Barry and Honey Sherman are shown in a handout photo from the United Jewish Appeal. THE CANADIAN PRESS/HO-United Jewish Appeal

Apotex Pharmaceutical Holdings Inc. has signed a deal to be acquired by U.S. private equity investment firm SK Capital Partners.

Financial terms of the agreement for the Canadian drug company were not immediately available.

Aaron Davenport, managing director at SK Capital, says Apotex is a dynamic, entrepreneurial company with a strong track record of success, underpinned by its diversified product portfolio, robust pipeline of new launches and iconic brand.

Apotex employs nearly 8,000 people around the world in manufacturing, research and development and commercial operations.

It operates in more than 45 countries, with a significant presence in Canada, the United States, Mexico and India.

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The deal is subject to customary regulatory conditions.

Apotex was founded by Barry Sherman in 1974. He and his wife Honey Sherman were murdered in their Toronto mansion in 2017.

Last year, police released a video of a possible suspect wanted in connection with the infamous case.

— With files from Ryan Rocca and Gabby Rodrigues

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