Swiss drug-maker Novartis planning to outsource as it cuts 2,000 jobs in an attempt to save $200m (£125m) a year.

Novartis reported profits in the third-quarter of $3.5bn (£2.2bn) but is battling against rising prices and the strong Swiss franc.

The cuts will affect nearly 2% of its workforce and will be carried out over the next three to five years.

Sites in Switzerland and Italy will be closed, with work outsourced to countries with lower costs.