Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Farrar Doug
 2. Date of Event Requiring Statement (Month/Day/Year)
11/01/2006		 3. Issuer Name and Ticker or Trading Symbol
INSMED INC [INSM]
(Last)
(First)
(Middle)
8720 STONY POINT PARKWAY, SUITE 200		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President, Manufacturing
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

RICHMOND, VA 23235		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to buy)   (1) 11/01/2012 Common Stock 175,000 $ 1.3 D  
Non-Qualified Stock Option (Right to buy)   (2) 08/04/2008 Common Stock 20,000 $ 1.08 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Farrar Doug
8720 STONY POINT PARKWAY
SUITE 200
RICHMOND, VA 23235		       Vice President, Manufacturing  

Signatures

Doug Farrar 11/03/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The option will vest annually over a four year period with 43,750 shares vesting on each of November 1, 2007, November 1, 2008, November 1, 2009, and November 1, 2010.
(2) The option will vest quarterly with 3,334 shares vesting on each of September 30, 2005 and December 31, 2005 and 3,333 shares vesting on each of March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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