Provided is a pressure equalizing device for facilitating drug reconstitution in a closed system. The pressure equalizing device includes a container for attachment to a receptacle, to permit pressure equalization between the container and the receptacle. The container includes a first chamber and a second chamber. The device further includes a vent channel extending between the first chamber and a distal opening of the vent channel. In accordance with the invention, when the receptacle is connected to the pressure equalizing device, the vent channel establishes direct fluid communication between the first chamber and the receptacle. Additionally, a longitudinal axis of the pressure equalizing device is configured to be aligned with or parallel to a longitudinal axis of the receptacle when the pressure equalizing device is attached to the receptacle.
