The invention relates to liquid pharmaceutical compositions containing: a) atherapeutically effective dose of a cyclosporin； b) an aqueous carrier liquid；c) a first solubilizing substance selected among the group of phospholipids；and d) a second solubilizing substance selected among the group of non-ionicsurfactants. Preferably, the cyclosporin is liposome solubilized. Theinventive composition is suitable for oral, parenteral, nasal, mucosal,topical, and particularly pulmonary application in the form of an aerosol.
