Formulation development is the process of combining an active drug with other ingredients to create a stable, bioavailable, and effective final product. It involves pre-formulation studies, design and testing, manufacturing, and stability testing. The goal is to identify the most effective delivery method for the active drug. Key steps include analytical development, particle characterization, dissolution testing, and excipient screening. Drugs then progress through preclinical and clinical research phases to test safety and efficacy before seeking regulatory approval. Post-approval monitoring ensures the drug's safe use. Factors like a drug's properties, intended use, and stability studies guide its formulation.