A drug delivery system includes drug containers, a pump assembly, a sensor, and a controller. The drug containers each contain a different predetermined drug co-formulation of predetermined first and second drugs, wherein the first drug has a sedative effect. The sensor is adapted to sense a variable associated with the drug containers and output a different drug co-formulation identification signal associated with each of the drug containers based on the sensed variable. The controller is programmed to identify the drug co- formulation for the drug container operatively connected to the pump assembly from the associated identification signal and to control the pump assembly to deliver the drug co- formulation of the one drug container to the patient during a medical procedure according to a corresponding drug delivery algorithm which is different for each of the drug containers. A method is also disclosed which uses the drug delivery system.