INSMED INC
S-1/A, EX-23.5, 2000-10-24
PHARMACEUTICAL PREPARATIONS
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                                                                Exhibit 23.5
                        Consent of Independent Auditors

We consent to the reference to our firm under the caption "Experts" and to the
use of our report dated June 2, 2000, with respect to the consolidated financial
statements of Celtrix Pharmaceuticals, Inc. included in the Registration
Statement (Form S-1 No. 333-46552) and related Prospectus of Insmed Incorporated
for the registration of 6,000,000 shares of its common stock.


                                                /s/ Ernst & Young LLP

Richmond, Virginia
October 20, 2000



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