New Approvals Spark a Melanoma Drug Battle

GlaxoSmithKline (NYSE: GSK  ) emerged as a top Big Pharma for the long run, but new drugs will make or break this company's future. The company took a welcome boost from the FDA recently, when the agency approved Glaxo's two new skin cancer drugs, Tafinlar and Mekinist, for use in treating patients with melanoma.

Glaxo's staring down some tough competition. Roche (NASDAQOTH: RHHBY  ) and Bristol-Myers Squibb (NYSE: BMY  ) each made hundreds of millions of dollars in sales last year after both had drugs approved for melanoma in 2011. Can Glaxo rise up to carve out a lucrative niche in this space? In the following video, Fool contributor Dan Carroll and health-care analyst Max Macaluso discuss what's in store for this company's melanoma drugs.

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