Calcitonin-containing liposome formulations were characterized to obtain information for evaluation of their feasibility in intranasal delivery. The parameters of liposomal charge characteristics, charge inducing agent concentration, calcitonin concentration and pH of the medium on the loading efficiency and leakage behaviour, and the chemical stability of calcitonin in liposomes were investigated. Results showed that the loading efficiency of calcitonin increased with increasing the added concentration of calcitonin. The magnitude of the loading efficiency due to the liposomal charge of negative, positive and neutral characteristics was in the order of negatively charged liposome > neutral liposome > positively charge liposome. The increase of molar ratio of phosphatidylserine in liposomes showed an increase of loading efficiency; while, the increase of molar ratios of stearylamine showed a decrease of loading efficiency. The loading efficiency at pH 7.4 was greater than that at pH 4.3. The leakage of positively charged liposomes was greater than that of neutral and negatively charged liposomes. The leakage at pH 4.3 was faster than that at pH 7.4. The leakage of positively charged liposomes increased as temperature increased. The chemical stability of calcitonin in both solution and liposomes demonstrated a pseudo-first-order kinetic degradation. Less degradation was observed at pH 3.4 and 4 degrees C. The degradation rate of calcitonin in solution, or in positively charged, negatively charged, and neutral liposomes, exhibited no significant difference. The particle size of the calcitonin-containing liposomes after storage for 1 month at pH 4.3 and 4 degrees C showed little change.