The present invention relates to a stable, non-aqueous and ready-to-use injectable composition of a pharmaceutically active agent a pharmaceutically active agent or a pharmaceutically acceptable salt or a co-crystal thereof. The present invention also relates to a process for the preparation of the stable, non-aqueous and ready-to-use injectable composition of pharmaceutically active agent involving use of a non-solvent solvent system suitable for preparing a stabilized injectable composition comprising a pharmaceutically active agent a pharmaceutically active agent or a pharmaceutically acceptable salt or a co-crystal thereof. It is not required to reconstitute the injectable composition of pharmaceutically active agent with water prior to administration, thereby rendering it an easy-to-use injectable composition.