Spherical pellets containing 5% of triamcinolone acetonide (TA) were formed by extrusion/spheronization following formulation with microcrystalline cellulose (MCC) and/or a hydrophilic excipient (lactose, sodium carboxymethylcellulose or β-cyclodextrin, β-CD). Their suitability for coating, with a view to colonic drug delivery, was assessed in terms of their size, sphericity and dissolution test response. Best results were afforded by 5:90:5 MCC-β-CD-TA pellets obtained by complexation of TA with β-CD prior to addition of MCC, extrusion and spheronization.