updated 5/10/2010 11:57:43 AM ET 2010-05-10T15:57:43

BioDelivery Sciences International Inc. said Monday its cancer pain drug Onsolis received regulatory approval in Canada.

The drug, called BEMA Fentanyl and marketed as Onsolis, has already received approval in the U.S.

It will be marketed in Canada by Meda Valeant Pharma Canada Inc., a joint venture between BioDelivery's commercial partner, Meda AB, and Valeant Canada Ltd.

BioDelivery said the drug will be launched in Canada during the third quarter.

Shares of BioDelivery rose 8 cents, or 2.5 percent, to $3.24 in midday trading. The stock has traded between $3.10 and $8.29 over the last 52 weeks.

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