It is a combination of two medicines – lidocaine and prolocaine – both of which are anaesthetic drugs.
One dose – three sprays – are applied directly to the penis before intercourse.
It works by decreasing the sensitivity of the head of the penis, to increase the amount of time before ejaculation.
The spray takes effect almost immediately upon application, giving users more control without reducing pleasure, its makers claim.
Tests showed that more than 85 per cent of men were able to last longer between the sheets with a delayed ejaculation time of greater than one minute after using the spray.
Ej3cul3tion time continues to increase as drug treatment is continued for several months and men can soon hold off from ejaculating for many minutes after getting frisky with a partner, the firm said.
Premature ejaculation is the most common form of sexual dysfunction in men, affecting more men than erectile dysfunction.
It is defined as an inability to delay ejaculation for more than a minute or two after penetration.
But the accepted ‘normal’ duration of intercourse is between four and seven minutes.
Experts say it can have adverse effects on the sexual behaviour, self-esteem and quality of life in men who suffer from it.
In some cases, it can be sufficiently serious that men are unable to form meaningful sexual relationships.
Regent Pacific’s chief executive Jamie Gibson, said: “Long suffering premature ejaculation patients in the UK will finally have a trustworthy prescriptive remedy for the condition which is affecting one in every four men globally.
“The condition creates significant burden on health, emotion, and overall quality of life of both men and their partners.”
But premature ejaculation is not the only condition causing bother for many men in the bedroom.
Around half of men over 40 suffer from erectile dysfunction or impotence.
But scientists have developed a Viagra mouth spray that perks up blokes in seconds.
Tests showed a quick squirt worked faster than tablets that took an hour and the effects lasted for more than an hour-and-a-half.
Experts in Taiwan mixed tiny drops of sildenafil, the chemical Viagra, with food-grade propylene glycol.
They found liquid squirted under the tongue of rabbits worked in just 78 seconds.
Tissues there can absorb medicines in a fraction of the time it takes pills to pass through the stomach.
Data from NHS Digital shows GPs doled out nearly 2.7million prescriptions for sildenafil last year.