Takeda Pharmaceutical is currently discussing negotiations to be able to buy its rival Nycomed for anywhere between 8 billion and 10 billion Euros, said a source with direct knowledge of the situation to a reporter on Thursday.

Bloomberg News broke the information of the potential deal on Wednesday, and if it goes through, Takeda would have control over a global company that made treatments for respiratory, gastric and inflammatory disorders. It also has developmental and research facilities in India and Europe.

The person that was close to the deal said that Takeda was being given advice from Deutsche Bank to buy Nycomed, a company based out of Zurich. The private equity firm Nordic Capital already owns 41% of Nycomed, DLJ Merchant Banking owns 26%, and Coller International Partners own close to 10%

However, as of yet no official agreement has been made, and it’s still possible that the talks could finish without a deal being made.

Last year, Nycomed experienced 3.2 billion Euros worth of sales, which was down by 2% from the year before. The company has a presence in 70 different nations, including Brazil and Russia. Half of its sales came out of Europe, and 38% came from emerging markets.