A pharmaceutical composition for parenteral administration comprising a therapeutically effective amount of a protein or polypeptide and colloidal particles. The particles comprise approximately 1-20 mole percent of an amphipathic lipid derivatized with a biocompatible hydrophilic polymer. The protein or polypeptide is selected from the group consisting of (a) proteins or polypeptides capable of externally binding said colloidal particles; (b) proteins or polypeptides capable of binding polymers of the polyalkylether, polylactic and polyglycolic acid families; and (c) proteins or polypeptides that include a consensus sequence of S/T-X/I/V-I/V/Q/S-S/T-X-X-X-E, where X may be any amino acid, and S,T,L,I,V,E and Q have their standard meanings. The protein or polypeptide is not Factor VIII (FVIII) and is not encapsulated in the colloidal particles.