The UK Government is set to add an additional £160m to the Cancer Drugs Fund, in order to improve treatment for patients.
The funding is intended to increase the grant from £200m a year to £280m annually over the next two years.
The fund is confirmed until March 2016, following an extension in 2013.
NHS England cancer experts said that two new drugs will be added to the fund, Xtandi (enzalutamide) for prostate cancer and Revlimid (lenalidomide) for patients with myelodysplastic syndrome, a rare blood condition.
“It’s vitally important that as many people as possible have access to these pioneering, life-enhancing drugs.”
UK Health Secretary Jeremy Hunt said: “It’s vitally important that as many people as possible have access to these pioneering, life-enhancing drugs, and we need to continue to focus our efforts on increasing access to these innovative treatments, whilst ensuring that all patients continue to receive the effective drugs, which are right for them.
The fund has been used to treat around 55,000 cancer patients, since it was set up four years ago to provide drugs for the people who need them most.
It has a crucial role in helping patients to access treatment, as the number of people diagnosed with cancer is seen increasing ever year by 9% in the country.
NHS England also plans to negotiate with pharmaceutical industry to offer best price on drugs, as well as working with NICE, researchers and patient charities to evaluate wider process for commissioning decisions on new cancer drugs.
The government has prepared £750m cancer strategy to improve cancer survival rates and provide better treatment.