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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>
                  <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>SECURITIES
                    AND EXCHANGE COMMISSION</strong></font></div>
                  <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>Washington,
                    D.C. 20549</strong></font></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                  <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: 16pt; FONT-FAMILY: Times New Roman"><strong>FORM
                    8-K</strong></font></div>
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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>CURRENT
                    REPORT</strong></font></div>
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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>Pursuant
                    to Section 13 OR 15(d) of the Securities Exchange Act of
                    1934</strong></font></div>
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        <div>&#160;</div>
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                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
                      of Report (Date of earliest event reported)</font></div>
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                  <td align="left" colspan="2" valign="top" width="60%" style="BORDER-BOTTOM: #ffffff thin solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>September
                      13, 2005</u></font></div>
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          <div>&#160;</div>
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                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                    <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: 24pt; FONT-FAMILY: Times New Roman"><strong>NexMed,
                      Inc.</strong></font></div>
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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">(Exact
                      name of registrant as specified in its
                      charter)</font></div>
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            <div>&#160;</div>
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                    <td colspan="2" valign="top" width="33%">&#160;</td>
                    <td colspan="2" valign="top" width="34%">&#160;</td>
                    <td align="left" valign="top" width="33%">&#160;</td>
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                    <td colspan="2" valign="top" width="33%" style="BORDER-BOTTOM: black thin solid">
                      <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">Delaware</font></div>
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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">0-22245</font></div>
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                        or other jurisdiction </font></div>
                      <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">of
                        incorporation) </font></div>
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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">File
                        Number) </font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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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">(I.R.S.
                        Employer</font></div>
                      <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">Identification
                        No.)</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                      <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">350
                        Corporate Boulevard, Robbinsville, New Jersey</font></div>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                      <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">08691</font></div>
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                    <td colspan="4" valign="top" width="67%">
                      <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">(Address
                        of principal executive offices)</font></div>
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                    <td valign="top" width="33%">
                      <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">(Zip
                        Code)</font></div>
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                  <tr>
                    <td align="left" colspan="5" valign="top" width="100%">&#160;</td>
                  </tr>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
                        telephone number, including area code (609) 208-9688</font></div>
                    </td>
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                  <tr>
                    <td align="left" colspan="5" valign="top" width="100%">&#160;</td>
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                    <td colspan="5" valign="top" width="100%" style="BORDER-BOTTOM: black thin solid">&#160;</td>
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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">(Former
                        name or former address, if changed since last
                        report.)</font></div>
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              <div>&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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:</font></div>&#160;</div>
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                          communications pursuant to Rule 425 under the Securities
                          Act (17 CFR
                          230.425)</font></div>
                      </td>
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                    <tr>
                      <td valign="top" width="6%"><font size="2" face="Wingdings">o</font></td>
                      <td align="left" colspan="4" valign="top" width="94%">
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                          material pursuant to Rule 14a-12 under the Exchange Act
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                          communications pursuant to Rule 14d-2(b) under the Exchange
                          Act (17 CFR
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                          communications pursuant to Rule 13e-4(c) under the Exchange
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      <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        1.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
        into a Material Definitive Agreement</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 81pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        September 13, 2005, NexMed, Inc. (&#8220;NexMed&#8221;) and its wholly-owned subsidiary
        NexMed International Limited entered into an exclusive global licensing
        agreement with Novartis International Pharmaceutical Ltd., for NexMed&#8217;s
        proprietary NM100060 nail lacquer treatment for onychomycosis, commonly known
        as
        nail fungus. NM100060 is currently in Phase 1 development in the
        U.S.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under
        the
        agreement, Novartis acquired the exclusive worldwide rights to NM100060 and
        will
        assume all further development, regulatory, manufacturing and commercialization
        responsibilities as well as costs.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under
        the
        terms of the agreement, NexMed expects to receive up to $51 million in upfront
        and milestone payments on the achievement by Novartis of specific development
        and regulatory milestones over an anticipated period of at least three years.
        Of
        this amount, an initial cash payment of $4 million will be paid at signing
        with
        another $2 million expected to be paid in six to twelve months. In addition,
        NexMed will receive royalties based upon the level of sales achieved. The
        royalty term is the later of ten years or the expiration of product patents
        on a
        country-by-country basis. Commercial sale of the product is expected to begin
        no
        earlier than in 2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Novartis
        may terminate this agreement, in its entirety or on a country-by-country
        basis,
        in its sole discretion at any time during the term on not less than ninety
        (90)
        days prior written notice to NexMed if such termination occurs prior to product
        launch in such country and not less than one hundred eighty (180) days prior
        written notice to NexMed if such termination occurs after product launch
        in such
        country. However, regardless of the date of termination, Novartis is obligated
        to complete the first Phase III clinical trial for the product.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NexMed&#8217;s
        proprietary anti-fungal lacquer NM100060 incorporates NexACT penetration
        enhancers with terbinafine, the active ingredient in Novartis&#8217; anti-fungal drug
        Lamisil</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 81pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        9.01. </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
        Statements and Exhibits. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
        Exhibits. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1*
        </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">License
        Agreement, dated September 13, 2005, between NexMed, Inc., NexMed International
        Limited and Novartis International Pharmaceutical Ltd.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
        release dated September 15, 2005 issued by NexMed, Inc., announcing entry
        into a
        license agreement with Novartis International Pharmaceutical Ltd. for
        NM100060.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>*</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        Portions
        of this exhibit have been omitted pursuant to a request for confidential
        treatment with the SEC. Such portions have been filed separately with the
        SEC.</font></div><br>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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. </font></div>
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              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NEXMED,
                INC.</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                Y. Joseph Mo</font></td>
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              <td colspan="2" width="0"><font size="2">Name: Y. Joseph Mo</font></td>
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              <td colspan="2" width="0"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:
                President and Chief Executive Officer</font></td>
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        September 15, 2005</font></div>
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{"company-data": {"conformed-name": "NEXMED INC", "cik": "0001017491", "assigned-sic": "2834", "irs-number": "870449967", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22245", "film-number": "051085662"}, "business-address": {"street1": "350 CORPORATE BLVD", "city": "ROBBINSVILLE", "state": "NJ", "zip": "08691", "phone": "6092089688"}, "mail-address": {"street1": "350 CORPORATE BLVD", "city": "ROBBINSVILLE", "state": "NJ", "zip": "08691"}}
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)
September
                      13, 2005
NexMed,
                      Inc.
(Exact
                      name of registrant as specified in its
                      charter)
Delaware
0-22245
87-0449967
(State
                        or other jurisdiction
of
                        incorporation)
(Commission
File
                        Number)
(I.R.S.
                        Employer
Identification
                        No.)
350
                        Corporate Boulevard, Robbinsville, New Jersey
08691
(Address
                        of principal executive offices)
(Zip
                        Code)
Registrant's
                        telephone number, including area code (609) 208-9688
(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:
o
Written
                          communications pursuant to Rule 425 under the Securities
                          Act (17 CFR
                          230.425)
o
Soliciting
                          material pursuant to Rule 14a-12 under the Exchange Act
                          (17 CFR
                          240.14a-12)
o
Pre-commencement
                          communications pursuant to Rule 14d-2(b) under the Exchange
                          Act (17 CFR
                          240.14d-2(b))
o
Pre-commencement
                          communications pursuant to Rule 13e-4(c) under the Exchange
                          Act (17 CFR
                          240.13a-4(c))
Item
        1.01
Entry
        into a Material Definitive Agreement
On
        September 13, 2005, NexMed, Inc. ("NexMed") and its wholly-owned subsidiary
        NexMed International Limited entered into an exclusive global licensing
        agreement with Novartis International Pharmaceutical Ltd., for NexMed's
        proprietary NM100060 nail lacquer treatment for onychomycosis, commonly known
        as
        nail fungus. NM100060 is currently in Phase 1 development in the
        U.S.
Under
        the
        agreement, Novartis acquired the exclusive worldwide rights to NM100060 and
        will
        assume all further development, regulatory, manufacturing and commercialization
        responsibilities as well as costs.
Under
        the
        terms of the agreement, NexMed expects to receive up to $51 million in upfront
        and milestone payments on the achievement by Novartis of specific development
        and regulatory milestones over an anticipated period of at least three years.
        Of
        this amount, an initial cash payment of $4 million will be paid at signing
        with
        another $2 million expected to be paid in six to twelve months. In addition,
        NexMed will receive royalties based upon the level of sales achieved. The
        royalty term is the later of ten years or the expiration of product patents
        on a
        country-by-country basis. Commercial sale of the product is expected to begin
        no
        earlier than in 2008.
Novartis
        may terminate this agreement, in its entirety or on a country-by-country
        basis,
        in its sole discretion at any time during the term on not less than ninety
        (90)
        days prior written notice to NexMed if such termination occurs prior to product
        launch in such country and not less than one hundred eighty (180) days prior
        written notice to NexMed if such termination occurs after product launch
        in such
        country. However, regardless of the date of termination, Novartis is obligated
        to complete the first Phase III clinical trial for the product.
NexMed's
        proprietary anti-fungal lacquer NM100060 incorporates NexACT penetration
        enhancers with terbinafine, the active ingredient in Novartis' anti-fungal drug
        Lamisil
®
.
Item
        9.01.
Financial
        Statements and Exhibits.
(c)
        Exhibits.
99.1*
License
        Agreement, dated September 13, 2005, between NexMed, Inc., NexMed International
        Limited and Novartis International Pharmaceutical Ltd.
99.2
Press
        release dated September 15, 2005 issued by NexMed, Inc., announcing entry
        into a
        license agreement with Novartis International Pharmaceutical Ltd. for
        NM100060.
*
Portions
        of this exhibit have been omitted pursuant to a request for confidential
        treatment with the SEC. Such portions have been filed separately with the
        SEC.
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/
                Y. Joseph Mo
Name: Y. Joseph Mo
Title:
                President and Chief Executive Officer
Date:
        September 15, 2005