A tiny device that delivers drugs exactly where they're needed

Philips iPill
It's like a regular pill, but with a microprocessor
Electronic pills have been used for diagnostic applications such as imaging, but the iPill from Philips Research, designed to treat gastrointestinal disorders, goes a step further, dispensing medication at a location and rate programmed by a physician. The disposable capsule, which is about the same size as an ordinary pill, contains a tiny computer, a wireless transmitter, and a series of sensors; it passes naturally through the digestive system after being swallowed with food or water.
With a microprocessor, power supply, medicine reservoir and pump, and a radio so that it can remain in contact with external medical equipment, it should definitely do its job well.

To read more : http://www.technologyreview.com/biomedicine/21817/?a=f
Also read: http://www.research.philips.com/newscenter/backgrounders/081111-ipill.html