The assessment of effluent collected from a Pharmaceutical Compainy in Ilorin, Kwara State, Nigeria was carried out. The effluent was analyzed for biochemical oxygen demand (BOD), Chemical oxygen demand (COD), total solids (T.S), suspended solid (SS), colour intensity and heavy metals, prior to being inoculated (treated) with pure and mixed culture of Saccharomyces (Fungi) and Pseudomonas aeroginosa (Bacteria) isolated from the pharmaceutical effluent. The bacteria and fungi were isolated through Pour plate method. The product of biological treatment was analyzed after five days of treatment. The result revealed that the effluent was initially of high BOD, COD, TS, DS, SS and pH. The method has significantly reduced COD to well below 250mg/L, BOD below 30mg/l and TS below 30mg/l which are upper limits for effluent’s disposal into water.The heavy metals in the effluent were also drastically reduced with some completely eliminated from the sample.