The present application describes compositions that can be used for the controlled release of pharmacological active ingredients from a viscoelastic aqueous polysaccharide matrix, and their potential use in the treatment of different stages of musculoskeletal diseases. The combination of drug release modulation and the viscoelastic nature of the composition makes possible the use thereof in the treatment of acute and chronic phases of musculoskeletal diseases characterized by an inflammatory state, and where a therapeutic effect and a viscosupplemental contribution are required.