This invention deals with a carboxyl-bearing, amphiphilic, solid copolyester stent coating composition for multifaceted prevention of vascular restenosis through a plurality of physicopharmacological modes. The composition includes one or more bioactive compounds and a copolymerization product of polyalkylene glycol, end-grafted with one or more cyclic monomer and treated further to introduce carboxyl-bearing end- or side-groups. The invention also deals with bioactive agents in an ionically conjugated form. The present coating may be applied to a metallic or an absorbable polymeric stent for use in preventing vascular restenosis.