The invention provides a capsule for oral administration comprising apharmaceutical composition comprising: (i) alisporivir in an amount of about15% toabout 20% by weight of the composition, (ii) water in an amount of about 2% toabout15% by weight of the composition, (iii) a lipophilic component, (iv) asurfactant; and(v) a hydrophilic component comprising ethanol.