Pharmaceutical Emulsions are thermodynamically unstable mixtures of two immiscible liquids stabilized by an emulsifying agent. They can be oil-in-water (O/W) or water-in-oil (W/O) emulsions depending on the dispersed and continuous phases. Emulsifying agents like surfactants, hydrocolloids, and solid particles form protective films around droplets and increase viscosity to prevent coalescence. Stability issues include creaming, cracking, and phase inversion. Methods to enhance stability are reducing droplet size, increasing viscosity, using emulsifying agents, and controlling storage temperature.