Personal care giant Johnson & Johnson, Takeda Pharmaceutical Co Ltd, and Novartis are said to have made moves to buyout the controlling stakes of Brazilian drugmaker Hypermarcas SA, held by Igarapava Participações SA and Maiorem SA de CV, according to a report by Reuters.

A source wanting to remain anonymous told Reuters that a buyout of the two investment vehicles, which hold a 34 percent combined stake in the company, would immediately trigger a ‘buyout of minority shareholders’.

Meanwhile the two companies are said to be seeking advice from Banco Bradesco SA (BBDC4.SA) and Credit Suisse Group AG (CSGN.S) on their options.

The proposals, which are yet to be made formal, are hoped to boost Hypermarcas’ $6 billion market value with the interest in the company following a shift in focus to over-the-counter medicines and sales of some of its brands to Coty, Reckitt Benckiser and Ontex Group.