Methods and apparatus are provided for delivering drugs or gene therapy within a patient's vessel. In a preferred embodiment, the apparatus comprises a material eluting a bioactive substance held in place within the patient's vessel by an anchor. The anchor and eluting material are sized and/or collapsible from a delivery configuration, in which the anchor and material may be delivered into the patient's vasculature within a delivery sheath, to a deployed configuration, wherein the anchor engages an interior wall of the patient's vessel. The eluting material may elute recombinant genes, drugs, or any other bioactive substance.