The present invention relates to a novel pharmaceutical composition comprising oxytocin and/or one or more fragment(s) and/or variant(s) thereof and at least one non-ionic cellulose ether, such as hydroxypropylmethylcellulose, said pharmaceutical composition having a low pH. The present pharmaceutical composition has been shown to provide an exceptionally suitable environment for oxytocin, as the stability thereof has increased significantly as compared to previous compositions with this molecule. The pharmaceutical composition according to the invention can be used for medical purposes, such as in the treatment of climacteric disorders.