The present invention discloses stable, solid oral pharmaceutical composition comprising Lanthanum carbonate having more than 6 molecules of water per molecule of lanthanum carbonate and pharmaceutically acceptable carriers or diluents, wherein said carrier or diluent excludes monosaccharide/s or disaccharide/s, such that the composition has comparable in-vitro dissolution profile similar to that of FOSRENOL®.Also disclosed is a wet granulation process for making the same.