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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
                STATES</strong></font></div>
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                AND EXCHANGE COMMISSION</strong></font></div>
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                D.C. 20549</strong></font></div>
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                1934</strong></font></div>
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                Inc.</strong></font></div>
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      NexMed, Inc.&#8217;s topical treatment for erectile dysfunction, currently in clinical
      development. The agreement, signed in July 2004, provided Schering with
      exclusive commercialization rights to Alprox-TD&#174; in Europe, Russia, the Middle
      East, South Africa, Australia and New Zealand. Pursuant to the terms of the
      Agreement, NexMed was entitled to receive milestone payments as well as a share
      of the revenue through transfer price payments based on the supply of
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            <td width="50%">&#160;</td>
            <td width="50%"><font size="2">NEXMED, INC.</font>&#160;</td>
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            <td width="50%"><font size="2">By: <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
              Vivian H.
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            <td width="50%"><font size="2">Date: June 28, 2006</font>&#160;</td>
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UNITED
                STATES
SECURITIES
                AND EXCHANGE COMMISSION
Washington,
                D.C. 20549
FORM
                8-K
CURRENT
                REPORT
Pursuant
                to Section 13 OR 15(d) of the Securities Exchange Act of
                1934
Date
                of Report (Date of earliest event reported)
June
                22, 2006
NexMed,
                Inc.
(Exact
                name of registrant as specified in its charter)
Nevada
0-22245
87-0449967
(State
                or other jurisdiction
of
                incorporation)
(Commission
File
                Number)
(I.R.S.
                Employer
Identification
                No.)
89
                Twin Rivers Drive, East Windsor, New Jersey
08520
(Address
                of principal executive offices)
(Zip
                Code)
Registrant's
                telephone number, including area code (609) 371-8123
(Former
                name or former address, if changed since last report.)
Check
                the appropriate box below if the Form 8-K filing is intended to
                simultaneously satisfy the filing obligation of the registrant under
                any
                of the following provisions:
¨
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)
¨
Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)
¨
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
¨
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13a-4(c))
Item
              1.02.
Termination
                of a Material Definitive
                Agreement.
On
      June
      22, 2006, the Company received written notice of the termination by Schering
      AG
      ("Schering") of its license, supply and distribution agreement for Alprox-TD®,
      NexMed, Inc.'s topical treatment for erectile dysfunction, currently in clinical
      development. The agreement, signed in July 2004, provided Schering with
      exclusive commercialization rights to Alprox-TD® in Europe, Russia, the Middle
      East, South Africa, Australia and New Zealand. Pursuant to the terms of the
      Agreement, NexMed was entitled to receive milestone payments as well as a share
      of the revenue through transfer price payments based on the supply of
      Alprox-TD®. NexMed did not receive any of such payments under the agreement.
      However, pursuant to the terms of the agreement, Schering is obligated to pay
      NexMed a termination fee in the amount of EUR 500,000.
Signature
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
NEXMED, INC.
By:
/s/
              Vivian H.
              Liu
Name:
Vivian
              H. Liu
Title:
Executive
              Vice President
Date: June 28, 2006