Barry Sherman, the billionaire founder of Canadian generic-drug company Apotex, and his wife, philanthropist Honey Sherman, were found dead Friday in their Toronto home. Police said both died from ligature neck compression and classified the deaths as suspicious. Homicide detectives took over the investigation, but police had not officially declared the deaths homicides.

The couple’s bodies were found hanging near their indoor pool, according to reports citing sources close to the investigation and family. Police said there were no signs of forced entry and no outstanding suspects about whom the public should be concerned. Some news outlets reported that investigators were considering a murder-suicide theory, but the Shermans’ four adult children rejected that suggestion. In a statement, they said their parents’ enthusiasm for life and dedication to family and community were inconsistent with the reports, and criticized the circulation of the theory.

The deaths shocked friends and colleagues, who said the couple had been making plans for their annual winter stay in Florida. Days before her death, Honey Sherman emailed friends about the trip, and the couple had begun arranging a dinner party at their Palm Beach home. Friends also said Barry Sherman remained devoted to Apotex and had expressed no plans to retire.

Barry Sherman, 75, founded Apotex in 1974 and built it into an international generic-drug business. His fortune was recently estimated at $4.77 billion, making him Canada’s 15th-richest person according to Canadian Business. Friends described him as reserved and intensely dedicated to his work. Toronto Mayor John Tory praised his investment in the city and the jobs his company created.

Honey Sherman, 70, was remembered as warm, outgoing and determined in her charitable work. The couple donated millions to hospitals, universities and Jewish causes. She served on the boards of organizations including the Baycrest Foundation and York University, and supported Mount Sinai Hospital and Holocaust education.

Neighbours, employees and well-wishers left flowers outside the couple’s home, while public figures and friends offered condolences. The Shermans had recently welcomed a grandchild.