The present invention relates to cyclosporine emulsions containing: (i) a cyclosporine, (ii) a natural oil (long chain triglyceride), (iii) a phosphatidylcholine, (iv) glycerol, (v) a pharmaceutically tolerable alkali salt of a free fatty acid, (vi) a medium chain triglyceride-oil, (vii) optionally, hydrochloric acid or sodium hydroxide for pH adjustment and (viii) water, and to therapeutic methods using them.
