A pharmaceutical aerosol formulation suitable for oral and/or nasal inhalation including the anti-inflammatory drug ciclesonide, hydrofluorocarbon propellants such as HFC 134a and/or 227, and ethanol in an amount sufficient to solubilize the ciclesonide (and various optional ingredients, such as surfactant). The formulations exhibit very desirable physical and chemical stability, as well as excellent delivery characteristics.
