Toronto police are investigating the suspicious deaths of billionaire pharmaceutical executive Barry Sherman and his wife, philanthropist Honey Sherman. The couple were found dead Friday at their North York home, where their bodies were reportedly discovered hanging near an indoor pool. Police said both died from ligature neck compression, and the homicide team has taken over the investigation.

Police said there were no signs of forced entry and no outstanding suspects of concern to the public. Some news outlets reported that investigators were considering a murder-suicide, but police had not officially established what happened. The couple’s four adult children rejected the reported theory, saying it was inconsistent with their parents’ enthusiasm for life and commitment to their family and community.

Days before their deaths, Honey Sherman, 70, had emailed friends about plans for the couple’s annual trip to Florida. She intended to travel on December 18, with Barry, 75, joining her on Christmas Day; they planned to return together on January 12. Friends said the couple were also arranging a dinner party at their Palm Beach winter home. Their Toronto house had recently been listed for sale.

Barry Sherman founded generic-drug maker Apotex in 1974 and built it into an international business. Canadian Business recently estimated his net worth at $4.77 billion, ranking him the 15th-richest person in Canada. Friends and colleagues described him as reserved and intensely dedicated to his work. Toronto Mayor John Tory praised him for creating jobs and maintaining Apotex operations in the city.

Honey Sherman was remembered as warm, sociable and committed to philanthropy. The couple gave millions of dollars to hospitals, universities and Jewish community causes, and she served on numerous charitable boards, including those connected with York University, Baycrest and Mount Sinai Hospital. Friends, former employees, neighbours and public figures expressed shock at the deaths, and well-wishers left flowers outside the couple’s home.