On Sunday, Toronto Police said post-mortem examinations carried out this weekend found the cause of death for both to be "ligature neck compression".
Const. David Hopkinson would not identify the two bodies found at the home of Apotex founder Bernard "Barry" Sherman and his wife Honey. But police did not call it a homicide, saying only that the deaths of the couple, found in their mansion Friday, were "suspicious".
On Friday night, police said they weren't looking for an outstanding suspect and that there were no signs of forced entry into the home.
Apotex, which was founded and owned by Sherman, is one of the world's biggest pharmaceutical companies.
"We are shocked and think it's irresponsible that police sources have reportedly advised the media of a theory which neither their family, their friends nor their colleagues believe to be true", the statement also said.
As a producer of more than 300 generic pharmaceutical products, Apotex has itself seen a number of litigation issues, as companies have pushed back on its efforts to sell cheaper no-name options. They have yet to confirm that the Shermans were the deceased, despite the family's statement, and Apotex confirming that its founder Barry Sherman and his wife had died.
With an estimated net worth of $3.2 billion at the time of his death, Sherman was the 12th richest person in Canada.
Sherman has also been an active philanthropist, including donating $50 million Canadian (US$39 million) to the United Jewish Appeal. Neighbors confirmed that the property was the couple's home.
"All of us at Apotex are deeply shocked and saddened by this news and our thoughts and prayers are with the family at this time", Berman said in a statement to CNN.
Honey Sherman was on the boards of several civic groups, including Mount Sinai's Women's Auxiliary, the Simon Wiesenthal Center and the International American Joint Distribution Committee.
Further details on their deaths were not immediately available.
Trudeau was among many prominent Canadians who expressed sorrow over the Shermans' deaths.
Honey Sherman was a member of the board of the Baycrest Foundation - the fundraising arm of a research and teaching hospital for the elderly in Toronto - as well as the York University Foundation.
This year, Karen Shepherd, the federal lobbying commissioner, said she was investigating the propriety of Sherman hosting a Liberal party fundraiser in 2015 that featured Trudeau before he was elected prime minister.
"Barry Sherman was a more reserved man but a man who, over his business career, created hundreds and hundreds of jobs for people in the city of Toronto", he added.