There are new guidelines that suggest healthy men who are regularly screened for prostate cancer -- and show no symptoms -- should consider taking a common drug to prevent the disease.

Each year, about 25,000 Canadian men will be diagnosed with prostate cancer and about 4,300 will die from the disease.

But research has now shown a drug can dramatically reduce a man's risk.

"The data shows we can reduce the risk of men developing prostate cancer by 25 per cent," says Dr. Alan So from the Prostate Centre at the Vancouver General Hospital.

In guidelines released by the American Urological Association and Society of Clinical Oncology, healthy men should consider taking the drug Finasteride once a day.

The drug has been used for years to treat enlarged prostate glands. It is more commonly known as Propecia, and is used to treat male baldness.

It works by inhibiting a hormone.

"It prevents the formation of very aggressive forms of testosterone which are important in the development and progression of prostate cancer," says Dr. So.

Studies have shown very limited side effects. Dr. So says even men who are considered at high risk for prostate cancer should consider taking the drug.

With a report from CTV British Columbia's Dr. Rhonda Low