Apotex President resigns amidst Founder’s murder and allegations of accepting Teva secrets

pharmafile | January 30, 2018 | News story | Manufacturing and Production, Medical Communications Apotex, Jeremy Desai, Teva, pharma 

Following the alleged murder of its founder Barry Sherman and his wife in December last year, Canada’s largest generic drug producer Apotex has now lost its President and CEO, as Jeremy Desai resigns effective immediately, to “pursue other opportunities.

Apotex refused to elaborate on Desai’s reasons for his departure, merely releasing a statement which said: “We thank Jeremy for his contributions and wish him success in the next phase of his career.” It is thought that Desai’s exit is related to allegations he accepted trade secrets from an employee at rival generics firm Teva, whom he is thought to have been in a romantic relationship with. The allegations are the basis of an ongoing US lawsuit filed last July.

Apotex has revealed that Desai will be replaced by current Vice-Chairman Jack Kay, who previously served as CEO four years ago. Jeff Watson, who has been with the company for 25 years and currently serves as the firm’s President of Global Generics, will now assume the role of President and Chief Operating Officer.

The Canadian firm has been reeling since the original allegations against Desai, and now, with the Toronto police pointing toward evidence that suggests Sherman, 75, and his wife Honey, 70, were murdered, the stability of the company remains in doubt. The pair was found with belts around their necks attached to the railing of their indoor pool, strangled in their home. Sherman was engaged in a number of legal battles at the time of his death, the foremost of which sought to shut down a government investigation into the legality of a political fundraiser he held for Canadian Prime Minister Justin Trudeau.

Matt Fellows

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