(LifeWire) -- He's a 38-year-old executive. She's a 34-year-old homemaker. He says they never fight, and in many ways they're compatible -- but not when it comes to sex.

"It's almost like a checklist," says Jon (who asked that his real name not be used) of their once-a-month lovemaking. The problem, he believes, is a lack of desire.

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A small Chicago-area company is hoping to do what a pharmaceutical giant couldn't: win FDA approval of a medication to boost flagging sexual desire in older women.

The drug—a form of testosterone called LibiGel that's rubbed into the upper arm—is at least two years away from pharmacy shelves. But Lincolnshire-based BioSante Pharmaceuticals helped sponsor a meeting of sex experts last week, seeking to convince them the company's on the right track.

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By Dr. Laura Berman
TODAYShow.com contributor

Baby boomers have always been on the forefront of the sexual revolution. From free love to birth control pills, the baby boomer generation has constantly pushed the envelope when it comes to sexual freedom and empowerment. Chat about it