liposomes consisting essentially of 1,2-dimyristoyl-sn-glycero-3-phosphocholine (DMPC) and 1,2-dipalmitoyl-sn-glycero-3-phosphocholine (DPPC), wherein said liposomes are multilamellar vesicles (MLV) having at least one membrane and a phase transition temperature in the range of about 20° C. to about 39° C.;

a non-ionic tonicity agent, comprising a polyol which is a sugar or sugar alcohol having at least five hydroxyl groups; and

a fluid medium selected from buffer or water in which the liposomes are suspended;

wherein the pharmaceutical composition is essentially free of any additional pharmaceutically active agents;

wherein the pharmaceutical composition is formulated for intra-articular administration; wherein the pharmaceutical composition provides lubrication of a mammalian joint having a temperature which is above the phase transition temperature;

wherein the polyol is present in an amount sufficient to provide osmolality of the composition in the range from about 200 to about 600 mOsm and to improve lubrication efficacy of the composition; and

wherein the polyol is present in a weight percent ranging from about 0.05% (w/w) to about 10% (w/w), of the total weight of the pharmaceutical composition.