Swiss drugmaker Novartis AG <NOVN.VX> is slashing 2,000 jobs in Switzerland and the United States as it seeks to rake in annual savings of more than $200 million in the face of growing price pressures and the strong Swiss franc.

The measures, which will be carried out over the next three to five years, will include the closures of two sites in Switzerland and one in Italy. It will also involve moving some research activities out of Switzerland and to the United States.

Novartis said it would take a restructuring charge of around $300 million in the fourth quarter.

(Reporting by Katie Reid)