Disclosed herein are stabilized powder and aqueous formulations comprising a substantially water insoluble lipophilic bioactive compound and a micelle-forming surfactant. In one embodiment, the formulation further comprises a water soluble reducing agent, and/or a water insoluble reducing agent, and/or a metal chelator, and/or a metal bisulfite reducing agent, or combinations thereof, wherein the formulation remains substantially clear and stable when stored at or below room temperature for a period of at least 6 months or at least 12 months and methods for preparing these formulations.
