There is provided a granular material comprising (i) at least 50% by weight based on the weight of the granular material of solid water-insoluble mixed metal compound capable of binding phosphate of formula (I): MII1-xMIIIx(OH)2An-y.ZH2O (I) where MII is at least one of magnesium, calcium, lanthanum and cerium; MIII is at least iron(III); An- is at least one n-valent anion; x=&Sgr;ny; 0<;x&nlE;0.67, 0<;y&nlE;1, and 0&nlE;z<;10; (ii) from 3 to 12% by weight based on the weight of the granular material of non-chemically bound water, and (iii) no greater than 47% by weight based on the weight of the granular material of excipient.