The aim of the present study is to formulate and evaluate Pulsincap drug delivery system containing carvedilol microspheres. This system can release the drug at a predetermined time after a lag period, so that the drug will be released from the formulation according to the physiological needs of the body, which offers benefits like, a) Controlled administration of therapeutic dose at the desired rate. b) Constant blood levels of the drug. c) Reduction of side effects, minimization of dosing frequency. d) Enhancement of patient compliance. e) To improve the cure rate. f) To minimizing the default rate. g) To minimize death rate. Carvedilol microspheres were prepared to enhance solubility and bioavailability of carvedilol. This was achieved by development of suitable method such as oil/water emulsification followed by solvent evaporation. The work in the present thesis was divided into three chapters: Chapter 1: Formulation and Evaluation of Carvedilol Pulsincap System. Chapter 2: Accelerated Stability Testing of Selected Formulations Containing Carvedilol. Chapter 3: In-Vivo Studies of Carvedilol from Selected Formulation.