BR Shetty, the managing director and chief executive of Neopharma, has said the Abu Dhabi-based company plans to invest up to Dhs300m over the next year to locally produce Merck-brand medication, Gulf News has reported. This follows the signing of an agreement with Merck Serono, a division of Merck KGaA of Germany, to manufacture Euthyrox, a hormone therapy requiring a very stringent sterile environment for production and packaging, and Glucophage, a standard oral treatment for people suffering from type 2 diabetes that helps control blood sugar levels. "The production agreement with Merck for the two brand products is for five years. The funding will be through my own sources. Over the next five years, we are looking to invest up to Dhs500m for producing branded medicines at Neopharma," Shetty said.