An improved method and composition for the treatment of hyperlipidemia, hypercholesterolemia, and hypertriglyceridemia as well as other disease states, particularly cardiovascular problems, uses a multiple release system that provides an immediate release of nicotinic acid followed by a subsequent release of nicotinic acid from the hydrolysis of a compound that generates nicotinic acid. In general, a composition according to the present invention comprises: (1) a quantity of nicotinic acid intended to saturate liver enzymes during a period from about 0.5 hours to about 2.5 hours after administration of the pharmaceutical composition but insufficient to trigger significant generation of nicotinuric acid; (2) a quantity of a derivative or analogue of nicotinic acid that is subject to hydrolysis after ingestion such that preferrably no more than about 10% of the derivative or analogue is hydrolyzed by about 8 hours after ingestion and such that substantially all of the derivative or analogue is hydrolyzed by about 12 hours after ingestion; and (3) at least one pharmaceutically acceptable carrier.