Lovastatin, also known as monacolin K, is the major active component in red yeast rice. It is the principal active substance in Monascus fermentation products and a statin (3-hydroxy-3-methylglutaryl coenzyme A reductase inhibitors) that inhibits rate-limiting enzymes in the production of cholesterol. Lovastatin is effective in reducing cholesterol levels in humans and is a lipid-lowering drug. Herein, lovastatin was produced from Antrodia salmonea by a liquid-state fermentation process. The A. salmonea extract contained 431 μg g–1 (d.b) lovastatin. A. salmonea extract with high lovastatin content is insoluble, resulting in poor bioavailability, which is problematic. In this study, we utilized a dripping pill delivery system to improve the absorption of lovastatin. Comparisons of the oxidative and thermal stability properties of the lovastatin medicine, A. salmonea extract and dripping pill were conducted by using high-performance liquid chromatography (HPLC) analyses, differential scanning calorimetry (DSC) tests and isothermal microcalorimetry (TAM Air) measurements. We also investigated the thermal degradation of the A. salmonea extract dripping pill under various atmospheric environments to determine the proper storage conditions, including the onset time, total reaction time and heat power of the exothermic reaction, by isothermal storage experimental analyses. The analysis of the oxidative and thermal stability properties suggested that the A. salmonea extract had a higher lovastatin content than the lovastatin medicine, and the results demonstrated the superiority of the dripping pills. Overall, the results can be applied to determine the suitable conditions for the production, storage, heat treatment and food processing of A. salmonea extract dripping pills, and the results will be beneficial to food and pharmaceutical applications.