This invention provides a fixed-dose composition comprising formoterol or a pharmaceutically acceptable salt thereof and budesonide, for use in the long-term treatment of COPD and the treatment of acute exacerbations of COPD, wherein the composition is administered as a maintenance dose for the long-term treatment of COPD and pro re nata (p.r.n.) as a rescue medication for the treatment of acute exacerbations of COPD.