The present invention is related to flexible, fibrous, biocompatible and biodegradable polymeric wafer consists of more than one polymeric fibers, each one loaded with different therapeutic agents having mutually exclusive synergistic activity. The wafer is capable of delivering the drugs locally in to the diseased site like tumor, inflammation, wound, etc., in a controlled and sustained fashion for enhanced therapeutic effect. The combination of drugs loaded in the wafer is chosen in such a way that the second or consecutive drugs will enhance or improve the therapeutic effect of the first drug.