Drug company Bayer has requested approval from US regulators for a new drug to treat prostate cancer.
The German pharmaceutical maker said the product could potentially reap annual sales of over 1bn euros (£810m).
Bayer applied for EU approval for the drug on Wednesday.
The drug, Radium-223 - formerly known as Alpharadin - targets bone metastases caused by prostate cancer which is untreatable through standard hormone therapy.
Calcium properties in the drug attach to the cancerous bone cells which are then targeted and destroyed with alpha rays.
The approach is more precise than traditional radiotherapy, and causes fewer side effects than some other types of treatment.
Last year, Bayer predicted the drug boost to its revenues and labelled the product as "blockbuster".
Cancer Research UK said initial results from a trial of Radium-223, which is administered by injection, this year were "very positive".
There are also trials using the drug for breast cancer that has spread to the bone, the charity added.
In 2009, more than 40,000 UK males were diagnosed with prostate cancer, the most common cancer found in men.
The charity movement Movember has raised awareness of prostate cancer and men’s health through the growing of moustaches in November, with fundraising that supports charities.
This year’s so-called Mo-Bros included Stoke City footballer, Michael Owen and England rugby’s Toby Flood.