A discharging device for liquids.The invention relates to a discharging device for liquids, more particularly for pharmaceutical liquids, comprising a delivery device (10), a liquid storage receptical (20) communicating with an input (10a) of the delivery device for storage of the liquid (30), and a discharge orifice (12) which communicates with an outlet (10b) of said delivery device,and the liquid storage receptical (20) is at least in part in the form of a dimensionally flexible liquid-containing bag (20) and the liquid storage receptical (20) is disposed in a buffer chamber of constant volume (42).To prevent air from escaping from the buffer chamber (42), provision is made for the buffer chamber to be sealed by a protective housing from the environment (1) in a gas-tight manner, for the buffer chamber to communicate with the environment through at least one capillary passageway for the purpose of pressure compensation, or for the buffer chamber (42) to communicate with the environment (1) via a balancing passageway for the purpose of pressure compensation, while a valve (70) which opens in dependence on the pressure differential is disposed in this balancing passageway.