The present invention relates to a pharmaceutical composition/formulation for use in treatment of Iron Deficiency Anaemia (IDA), Anaemia of Inflammation (AOI) and neuro-degenerative disorders. More particularly, the invention relates to a pharmaceutical composition/formulation comprising a synergistic combination of Lactoferrin and Guanosine Nucleotides or a pharmaceutically acceptable salt thereof. The application also provides various formulations and methods of preparing the same.