8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  June 10, 2009

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Stellar Pharmaceuticals Inc.

(Exact name of registrant as specified in its charter)

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Ontario, Canada	0-31198	Not Applicable
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

544 Egerton Street, London, Ontario, Canada, N5W 3Z8

(Address of Principal Executive Office) (Zip Code)

(519) 434-1540

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01

Regulation FD Disclosure

See Exhibit 99.1

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.	Description
99.1	Stellar Pharmaceuticals Announces Watson Pharma, Inc has received a conditional IDE approval for Stellar’s URACYST from FDA.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

STELLAR PHARMACEUTICALS INC.
By:	/s/ PETER RIEHL
	Peter Riehl President and Chief Executive Officer

Date:  June 10, 2009

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EX-99.1

EXHIBIT 99.1

Press Release Source: Stellar Pharmaceuticals Inc.

STELLAR PHARMACEUTICALS INC. ANNOUNCES

WATSON PHARMA, INC. HAS RECEIVED A CONDITIONAL IDE APPROVAL FOR STELLAR’S URACYST^® FROM THE FDA

London, Ontario, June 10, 2009 – Stellar Pharmaceuticals Inc. ("Stellar" or the "Company") (OTCBB:SLXCF.OB) is pleased to announce that its United States licensee, Watson Pharma, Inc. ("Watson") (WPI: NYSE), has received a conditional approval of their Investigational Device Exemption (IDE) to conduct clinical work with Uracyst^® from The Food and Drug Administration (FDA) in the United States of America ("USA").  This will allow Watson to continue to move their Uracyst® development program forward towards the eventual approval for the sale of Uracyst® in USA.  The conditional approval allows Watson to begin a blinded, placebo-controlled, pilot clinical trial in 100 subjects at 20 clinical study centers in the USA.

Peter Riehl, Stellar’s President and CEO stated, “We are very pleased to see another important milestone completed by Watson as they continue to make progress towards the sale of Uracyst® in the largest pharmaceutical market in the world.  Stellar is fortunate to have a partner as experienced as Watson is in the field of urology to develop the clinical program for the Uracyst marketing approval in the USA.”

About Stellar

Stellar has developed and is marketing direct in Canada and in countries around the world through out-license agreements two products based on its core polysaccharide technology: NeoVisc®, for the treatment of osteoarthritis; and Uracyst®, its patented technology for the treatment of interstitial cystitis (IC), an inflammatory disease of the urinary bladder wall. Stellar also has in-licensing agreements for NMP22® BladderChek®, a proteomics-based diagnostic test for the diagnosis and monitoring of bladder cancer.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations, to attract and retain qualified professionals, technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.

For more information contact:

Stellar Pharmaceuticals Inc.  

or

Arnold Tenney – Chairman of the Board

544 Egerton St.

(416) 587-3200

London, ON  N5W 3Z8

Peter Riehl – President/CEO

(519) 434-1540

email – corpinfo@stellarpharma.com