Mountain View, Calif.-based pharmaceutical company Vivus on Monday announced it received FDA approval for a spray to treat hot flashes and other moderate to severe menopause-related symptoms, the San Jose Mercury News reports. The spray, called EvaMist, delivers a measured dose of estrogen to a woman's skin (Johnson, San Jose Mercury News, 7/31).

St. Louis-based KV Pharmaceutical, which bought the marketing rights for EvaMist earlier this year, will pay $140 million to Vivus under an agreement reached between the two companies, Reuters reports. KV intends to launch the product during the second half of fiscal year 2008 (Relia/Tickoo, Reuters, 7/30).

According to the Mercury News, Vivus executives said EvaMist can be used to treat hot flashes with lower doses of estrogen than other products on the market (San Jose Mercury News, 7/31). Marc Hermelin, KV board chair and CEO, said, "We believe our existing presence in the women's health market and our specialized focus on the ob-gyn community through our dedicated sales force will allow us to successfully promote the benefits of EvaMist to physicians and patients" (KV Pharmaceutical release, 7/30).