A composite graft for a fluid-carrying vessel in a living body, comprising: an inner vessel comprising a biologic collagenic material that has been stabilized, an outer member surrounding at least a segment of the inner vessel and defining an annulus between the inner vessel and the sleeve, the outer member comprising a polymeric fabric, and a bioactive compound in said annulus, said bioactive compound being carried on a time-release vehicle. The bioactive compound is preferably an occlusion-preventing agent. Alternatively, the sleeve includes the bioactive compound, either on its inner surface or integrally as part of its fibers.