A body implantable lead for the delivery of stimulation energy to a desired body site including a drug dispenser carried by the lead which retains a drug to be dispensed while allowing the dispensing of that drug at least adjacent the desired body stimulation site. The drug may be one which is intended to counter thrombus formation, fibrosis, inflammation or arrhythmias, or any combination thereof, or to accomplish any other localized purpose. The drug is retained in a cavity within the lead, with an agency controlling dispensing of the drug. In a preferred embodiment, the drug is compounded into a solid material which is retained within a tip electrode while being exposed to body fluids through a porous elution path. The drug may also be retained on and diffused from a porous surface of the electrode, adjacent to the elution path. Preferably, the drug is compounded within a polymer carrier, mounted within the cavity in the electrode.