This invention related to a series of new phosphonic acid derivatives having anti-hyperphosphatemia activity. ##STR00001## wherein: A is selected from --(CH.sub.2).sub.n--, --CO--, --(CH.sub.2).sub.n--CO--(CH.sub.2).sub.m--, --(CH.sub.2).sub.n--CS--(CH.sub.2).sub.m-- or a branched alkylene group, B ring and C ring are selected from a benzene ring, naphthalene ring, azulene ring or, heterocycle or fused heterocycle compound, D is --(CH.sub.2).sub.(n+1)--, --(CH2)--O--(CH.sub.2).sub.m--, --(CH.sub.2)--S(O).sub.o--(CH.sub.2).sub.m--, --CF.sub.3 or --(CH.sub.2).sub.n--NR.sup.10--(CH.sub.2).sub.m-- wherein a D ring is connected with the carbon atom composing the C ring, E is selected from an oxygen atom or a sulfur atom, P is a phosphine atom, R.sup.1.about.R.sup.7, wherein R.sup.1 and R.sup.2, R.sup.4 and R.sup.5 are joined together with neighbored carbon atom to form 5.about.7 membered saturated or unsaturated hydrocarbon ring, or 5.about.6 membered fused heterocycle, R.sup.1, R.sup.2 and R.sup.3 are not a hydrogen atom if the B ring is a benzene ring and may be the same or different and are substituents, R.sup.8 and R.sup.9 are may be the same or different and are substituents, R.sup.10 is an alkyl group, n and m are 0-10 and o is 0-2.