The rise of ANTI-Viagra: Drug that prevents premature ejaculation takes U.S. by storm Promescent is a spray which reduces sensitivity so a man can perform for longer - it is available over-the-counter and is approved by the FDA It is produced by a small company, called Absorption Pharmaceuticals The CEO, Jeff Abraham, believes premature ejaculation treatments are the next big thing so is amazed no big companies have made a rival product Known as anti-Viagra, a new drug which treats premature ejaculation could be the next big thing. Promescent, an FDA-approved medication to prevent premature ejaculation, is revolutionising treatment for the condition which affects one in three men at some point in their lives. Until now, impotence drugs, such as Viagra, have been big business for pharmaceutical companies but premature ejaculation treatment has been comparatively ignored. Promescent, an FDA-approved medication to prevent premature ejaculation, is revolutionising treatment for the condition which affects one in three men at some time in their lives Now, however, competition is increasing to find treatments for the condition, CNBC reports. Jeff Abraham, CEO of a four-year-old pharmaceutical company called Absorption Pharmaceuticals, makes Promescent - a spray which can be bought over-the-counter. He is amazed that none of the big pharmaceutical companies have yet come up with a rival product. He said to CNBC: "How can these billion dollar companies in the ED space not come up with a product?" Promescent uses lidocaine, a pain medication, to reduce a man's sensitivity so he can perform for longer. This year it is believed that sales of the drug will reach $1.5 million and that next year, they will hit $4 million. It is thought that the drug is now also being used by people who do not suffer from premature ejaculation. Mr Abraham told CNBC: "There is a tremendous recreational component." Until now, impotence drugs, such as Viagra (pictured), have been big business for pharmaceutical companies but premature ejaculation treatment has been comparatively ignored A rival product, Tempe, is soon to hit the European market. It was made by Dr Mike Wyllie who created Viagra. Mr Abraham believes the market for premature ejaculation treatments could soon become bigger than the one for erectile dysfunction treatments - he recently turned down an offer of $30 million for his company believing it will soon be worth much more. John Dean, one of Britain's leading experts on male sexual problems and a past president of the International Society for Sexual Medicine, said: "Whilst premature ejaculation is not a life-threatening condition, its consequences can be serious. This is a chronic, debilitating problem, affecting both men and their partners.