SAO PAULO, Dec 17 (Reuters) - Brazilian pharmaceutical company EMS is expected to offer 1.5 billion reais ($357.5 million) to acquire painkiller brand Buscopan from German company Boehringer Ingelheim and its Brazilian rival Hypera SA is also interested in the deal, one source with knowledge of the matter said on Tuesday.
Brazilian newspaper O Globo reported the deal earlier on Tuesday, saying EMS will deliver its bid on Tuesday at Boehringer's headquarters in Frankfurt.
Boehringer Ingelheim and Hypera did not immediately reply to requests for comment. EMS declined to comment. ($1 = 4.1964 reais) (Reporting by Tatiana Bautzer Editing by Chizu Nomiyama)