A method for producing particles, from a substance, having predetermined sizeand/or morphology characteristics.The method consists of mixing within a spray nozzle a solution streamcontaining the substance in dissolved or dispersed form with asupercritical fluid stream. Spraying the mixture through a nozzle into aparticle collecting chamber and there separating the particles.The characteristic feature is an additional step, providing a make-up agent(modifier) to the fluid stream, possibly combined withrecycling of the fluid and/or performing the method essentially simultaneouslyin several spray nozzles. Additional features are alsoa production system comprising functions for performing the method above andthe introduction of the make-up agent, recycling ofthe fluid and performing several runs essentially simultaneously in the sameproduction system. Also a pharmaceutical formulationin which particles produced according to the method has been used for itsmanufacture.