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BioDelivery Sciences International (NASDAQ:BDSI) and marketing partner Meda AB announced earlier this week that Onsolis, a treatment for pain in cancer patients which utilizes BioDelivery's BEMA drug delivery technology, has received regulatory approval in Canada.

Onsolis will be will be marketed in Canada by Meda Valeant Pharma Canada Inc.

The Canadian approval offers another potential revenue stream for BioDelivery and Meda, although not to the extent of the US potential, at a time when the BDSI stock has been battered by a recent direct offering and little faith by investors that Onsolis is catching on in the United States.

The true potential of BDSI, in my opinion, lies not only in the short term sales potential of Onsolis, but also in the development of the BEMA drug delivery technology.

With Onsolis already approved in the United States and Canada, the potential for Meda to ramp up sales exists as the pipeline develops, and therefore, I still like BDSI as a nice mid to long term pick.

It's easy to incite panic and fear regarding Onsolis sales (or perceived lack thereof) now, but the product has been on the market for far too short of a timeframe to call it a failure.

This is a 'patience' stock, in my opinion, not everything develops overnight, although we are living in the land and the age of the "Get Rich Quick" mentality.

For the time being, I think that BEMA is still a technology too valuable to give up on.

Disclosure:
Long BDSI - and adding shares.

Source: BioDelivery Sciences International: Why I Believe Patience Will Reward Investors