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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: 14pt; FONT-FAMILY: Times New Roman"><strong>FORM
                8-K</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#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"><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>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
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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>
            </td>
            <td align="left" colspan="2" valign="top" width="48%" style="border-bottom: medium none;">
              <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>June
                5, 2006</u></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: 24pt; FONT-FAMILY: Times New Roman"><strong>NexMed,
                Inc.</strong></font></div>
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            <td colspan="5" valign="top" width="99%">
              <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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          <tr>
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            </td>
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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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                Number) </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">(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>
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            <td colspan="2" valign="top" width="33%">&#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">89
                Twin Rivers Drive, East Windsor, New Jersey</font></div>
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                of principal executive offices)</font></div>
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                Code)</font></div>
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            <td valign="top" width="32%">&#160;</td>
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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) 371-8123</font></div>
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            <td colspan="5" valign="top" width="99%" style="border-bottom: black thin solid;">&#160;</td>
          </tr>
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                name or former address, if changed since last report.)</font></div>
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            <td colspan="5" valign="top" width="99%">&#160;</td>
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            <td align="left" colspan="5" valign="top" width="99%">
              <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>
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                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#168;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font></div>
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                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></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"><strong>Item
      1.01. Entry into a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      June
      5, 2006 at the Annual Meeting of Stockholders of NexMed, Inc. (the &#8220;Company&#8221;),
      stockholders of the Company approved the 2006 Stock Incentive Plan (the &#8220;Plan&#8221;),
      which was previously approved by the Board of Directors on March 7, 2006. The
      Plan became effective upon approval by the stockholders of the Company.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      summary of the Plan below is qualified in its entirety by reference to the
      text
      of the Plan, which was previously filed as Annex A to the Company&#8217;s proxy
      statement filed April 6, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Plan
      allows the Company, under the direction of the Company&#8217;s Executive Compensation
      Committee, to make grants of incentive stock options (&#8220;ISOs&#8221;), non-incentive
      stock options, restricted stock awards and stock appreciation rights (&#8220;SAR&#8221; or
&#8220;SARs&#8221;) for up to an aggregate of 3 million shares of common stock to employees,
      non-employee directors, and consultants to the Company or any of its
      subsidiaries, or any corporation acquired by the Company or any of its
      subsidiaries. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      exercise price of stock options granted under the Plan may not be less than
      the
      fair market value (generally the closing sale price of a share of Company&#8217;s
      shares on the day of the grant, or if the shares are not listed on a national
      securities exchange or such system on such date, the fair market value as
      determined in good faith by the Compensation Committee) of the Company&#8217;s shares
      on the day of the grant. However, in the case of a Participant (as defined
      in
      the Plan) who owns more than 10% of the total combined voting power of the
      common stock at the time of a grant, the exercise price of an ISO may not be
      less than 110% of the fair market value of the Company&#8217;s shares on the day of
      the grant. The value of a SAR is the excess of the fair market value of a share
      on such date over the fair market value of a share on the date of grant.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      terms
      of these awards and SARs is determined by the Compensation Committee but may
      not
      be longer than ten years. However, in the case of a Participant who owns more
      than 10% of the total combined voting power of the common stock at the time
      an
      option is granted, the term of an ISO may not be in excess of five years from
      the date of the grant.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Plan
      provides generally that vested options expire on the earlier of their stated
      expiration date or (i) 90 days after termination, voluntarily or otherwise,
      but
      not due to death, retirement or disability, of a Participant&#8217;s employment or
      cessation of service, or (ii) immediately if a Participant is terminated for
      cause. Unvested options or SARs will vest immediately in the event of death,
      retirement or disability and will expire (i) the earlier of six months after
      the
      date of retirement or the date of termination specified in such option or SAR
      in
      the case of a Participant&#8217;s retirement, (ii) the earlier of six months after the
      qualification of a representative of a Participant&#8217;s estate or the date of
      termination specified in such option or SAR in the case of a Participant&#8217;s
      death, or (iii) the earlier of six months after the date of disability or the
      date of termination specified in such option or SAR in the case of a
      Participant&#8217;s disability. Vesting is accelerated on a Change in Control (as
      defined in the Plan) if a Participant&#8217;s employment or directorship with the
      Company is terminated without cause (as defined in the Plan), or a Participant
      terminates his or her employment or service as a director for good reason (as
      defined in the Plan), within one year after the effective date of a Change
      in
      Control.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the terms of the Plan, the aggregate fair market value of the Company&#8217;s
      shares for which any Participant may be granted ISOs which are exercisable
      for
      the first time in any calendar year may not exceed $100,000. Awards are subject
      to adjustment in the event of stock splits or combinations or exchanges, or
      reorganizations, recapitalizations, mergers or consolidations and the
      like.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Plan
      will terminate on March 6, 2016. However, the Board of Directors may at any
      time
      terminate the Plan or make such modifications to the Plan as it may deem
      advisable. The Board of Directors, however, may not, without approval by the
      stockholders of the Company, increase the number of shares of common stock
      as to
      which stock awards may be granted under the Plan, change the manner of
      determining option or SAR prices, change the class of persons eligible to
      participate in the Plan or make other changes to the Plan which are not
      permitted without stockholder approval under the Nasdaq rules.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      copy of
      the Plan is incorporated by reference as Exhibit 99.1 hereto. </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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01. 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="justify"><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">(d)
      </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits:</font></div>
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    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

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            <td style="width: 18pt;">
            </td>
            <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NexMed,
                Inc. 2006 Stock Incentive Plan (incorporated by reference to Annex
                A of
                the&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Company&#8217;s
                Definitive Proxy Statement filed with the Securities and Exchange
                Commission&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">on
                April 6, 2006).</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</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>Signature</strong></font></div>
    <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: 36pt; 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>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td width="40%">&#160;</td>
            <td align="left" colspan="2" valign="top" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NEXMED,
              INC.</font></td>
          </tr>
          <tr>
            <td width="40%">&#160;</td>
            <td align="left" valign="top" width="4%">&#160;</td>
            <td align="left" valign="top" width="38%">&#160;</td>
          </tr>
          <tr>
            <td width="40%">&#160;</td>
            <td align="left" valign="top" width="4%">&#160;</td>
            <td align="left" valign="top" width="38%">&#160;</td>
          </tr>
          <tr>
            <td width="40%">&#160;</td>
            <td align="left" valign="top" width="4%">
              <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">By:
                </font></div>
            </td>
            <td align="left" valign="top" width="38%">
              <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>/s/
                Vivian H.
                Liu&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font></div>
            </td>
          </tr>
          <tr>
            <td width="40%">&#160;</td>
            <td align="left" valign="top" width="4%">
              <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">Name:</font></div>
            </td>
            <td align="left" valign="top" width="38%">
              <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">Vivian
                H. Liu</font></div>
            </td>
          </tr>
          <tr>
            <td width="40%">&#160;</td>
            <td align="left" valign="top" width="4%">
              <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">Title:</font></div>
            </td>
            <td align="left" valign="top" width="38%">
              <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">Executive
                Vice President </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>&#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">Date:
      June 5, 2006</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": "06894475"}, "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)
June
                5, 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
      1.01. Entry into a Material Definitive Agreement.
On
      June
      5, 2006 at the Annual Meeting of Stockholders of NexMed, Inc. (the "Company"),
      stockholders of the Company approved the 2006 Stock Incentive Plan (the "Plan"),
      which was previously approved by the Board of Directors on March 7, 2006. The
      Plan became effective upon approval by the stockholders of the Company.
The
      summary of the Plan below is qualified in its entirety by reference to the
      text
      of the Plan, which was previously filed as Annex A to the Company's proxy
      statement filed April 6, 2006.
The
      Plan
      allows the Company, under the direction of the Company's Executive Compensation
      Committee, to make grants of incentive stock options ("ISOs"), non-incentive
      stock options, restricted stock awards and stock appreciation rights ("SAR" or
"SARs") for up to an aggregate of 3 million shares of common stock to employees,
      non-employee directors, and consultants to the Company or any of its
      subsidiaries, or any corporation acquired by the Company or any of its
      subsidiaries.
The
      exercise price of stock options granted under the Plan may not be less than
      the
      fair market value (generally the closing sale price of a share of Company's
      shares on the day of the grant, or if the shares are not listed on a national
      securities exchange or such system on such date, the fair market value as
      determined in good faith by the Compensation Committee) of the Company's shares
      on the day of the grant. However, in the case of a Participant (as defined
      in
      the Plan) who owns more than 10% of the total combined voting power of the
      common stock at the time of a grant, the exercise price of an ISO may not be
      less than 110% of the fair market value of the Company's shares on the day of
      the grant. The value of a SAR is the excess of the fair market value of a share
      on such date over the fair market value of a share on the date of grant.
The
      terms
      of these awards and SARs is determined by the Compensation Committee but may
      not
      be longer than ten years. However, in the case of a Participant who owns more
      than 10% of the total combined voting power of the common stock at the time
      an
      option is granted, the term of an ISO may not be in excess of five years from
      the date of the grant.
The
      Plan
      provides generally that vested options expire on the earlier of their stated
      expiration date or (i) 90 days after termination, voluntarily or otherwise,
      but
      not due to death, retirement or disability, of a Participant's employment or
      cessation of service, or (ii) immediately if a Participant is terminated for
      cause. Unvested options or SARs will vest immediately in the event of death,
      retirement or disability and will expire (i) the earlier of six months after
      the
      date of retirement or the date of termination specified in such option or SAR
      in
      the case of a Participant's retirement, (ii) the earlier of six months after the
      qualification of a representative of a Participant's estate or the date of
      termination specified in such option or SAR in the case of a Participant's
      death, or (iii) the earlier of six months after the date of disability or the
      date of termination specified in such option or SAR in the case of a
      Participant's disability. Vesting is accelerated on a Change in Control (as
      defined in the Plan) if a Participant's employment or directorship with the
      Company is terminated without cause (as defined in the Plan), or a Participant
      terminates his or her employment or service as a director for good reason (as
      defined in the Plan), within one year after the effective date of a Change
      in
      Control.
Pursuant
      to the terms of the Plan, the aggregate fair market value of the Company's
      shares for which any Participant may be granted ISOs which are exercisable
      for
      the first time in any calendar year may not exceed $100,000. Awards are subject
      to adjustment in the event of stock splits or combinations or exchanges, or
      reorganizations, recapitalizations, mergers or consolidations and the
      like.
The
      Plan
      will terminate on March 6, 2016. However, the Board of Directors may at any
      time
      terminate the Plan or make such modifications to the Plan as it may deem
      advisable. The Board of Directors, however, may not, without approval by the
      stockholders of the Company, increase the number of shares of common stock
      as to
      which stock awards may be granted under the Plan, change the manner of
      determining option or SAR prices, change the class of persons eligible to
      participate in the Plan or make other changes to the Plan which are not
      permitted without stockholder approval under the Nasdaq rules.
A
      copy of
      the Plan is incorporated by reference as Exhibit 99.1 hereto.
Item
      9.01. Financial Statements and Exhibits.
(d)
Exhibits:
99.1
NexMed,
                Inc. 2006 Stock Incentive Plan (incorporated by reference to Annex
                A of
                the
Company's
                Definitive Proxy Statement filed with the Securities and Exchange
                Commission
on
                April 6, 2006).
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 5, 2006