The U.S. Food and Drug Administration has approved the first drug to treat cancer in dogs.

Palladia, manufactured by Pfizer Animal Health, will target common skin tumors that are fast growing and deadly.

"It is a real breakthrough for a cancer drug to be made specifically for animals," said Lawrence McGill, a veterinary pathologist at ARUP Laboratories in Salt Lake City, Utah told ABC News.

Until now, all cancer drugs used in veterinary medicine were developed for use in humans and weren't specifically approved for animals.

"Hopefully, this is the start of many products coming forward so that we can help pets with cancer. I strongly suspect that veterinary medicine will continue to utilize human anti-cancer drugs where appropriate, but new drugs directed towards improving the health and welfare of dogs, cats and other pets will be greatly utilized and appreciated," McGill said.

Palladia is being used in veterinarians' offices now, but will be available for purchase through veterinary clinics in 2010. That will allow dogs to be treated in the comfort of their homes.