A medical device for delivering medication to an eye includes a stent having a proximal end and a distal end, the proximal end includes a collarette configured to be secured against a punctum of the nasal lacrimal system, and the distal end includes an expandable pouch for storing the medication to be delivered to the eye. The stent has a length substantially equivalent to a length of a canaliculus that is joined to the punctum such that, when implanted, the expandable pouch of the medical device is disposed in the nasal lacrimal sac of the patient and the medication is thereafter released through an opening in the collarette. A mechanical pumping mechanism in the expandable pouch and/or a membrane covering the opening in the collarette may be provided to better control release of the fluid. The stent may also include anchoring pegs disposed on an exterior surface thereof that, when the device is implanted, contact an interior surface of the canaliculus. An inserter tool is also described.