Pharmaceutical formulations for oral use in hormone replacement therapy comprising ultra-micronized progesterone are disclosed, wherein the ultra-micronized progesterone is combined with a suitable excipient. The preferred excipients comprise medium chain fatty acid-glycol esters and a nonionic surfactant comprising a polyethylene glycol fatty acid ester. In some embodiments C8 to C18 fatty acid esters of glycerol and polyethylene glycol are the preferred nonionic surfactants.
