Canada’s federal government ordered to hand over $40 million to Barry Sherman’s family

What about the investments Barry Sherman and his wife had in 2016?

The pharmaceutical company is withholding $40 million from the Hansels until federal authorities wrap up their probe, according to a settlement filed in a Canadian court on November 15.

The money will go to the U.S. government.

The criminal lawsuit is related to an investigation that the U.S. Department of Justice launched against the drugmaker in 2017.

In the suit, the Hansels allege that over a 16-year period, the company colluded with at least three other drugmakers to fix and restrict the prices of a class of generic drugs. The probe is ongoing.

Canadian prosecutors want Apotex to pay a $4 million penalty to resolve charges that the company violated Canada’s anti-trust laws, according to a statement. They asked the court to appoint a monitor to oversee Apotex’s compliance program for 10 years.

The government had also asked for a cease-and-desist order that would require Apotex to refrain from communicating with its competitors.

Apotex has paid $300 million in fines in the past, but the Canadian court only imposed the new, larger fine because of its role in the U.S. price-fixing investigation, according to court filings.

Leave a Comment