Connetics POS AM Prospectus update (post-effective amendment)

Exhibit 25.1

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF
A CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF
A TRUSTEE PURSUANT TO SECTION 305(b)(2) ___

J. P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

		95-4655078
(Jurisdiction of incorporation or	(I.R.S. Employer
organization if not a U.S. national bank)	Identification No.)
1999 Avenue of the Stars – Floor 26
Los Angeles, CA		90067
(Address of principal executive offices)	(Zip Code)

Robert M. Macallister
Vice President and Assistant General Counsel
J. P. Morgan Trust Company, National Association
c/o 1 Chase Manhattan Plaza, 25^th Floor
New York, New York 10081
Tel: (212) 552-1716
(Name, address and telephone number of agent for service)

CONNETICS CORPORATION

(Exact name of obligor as specified in its charter)

Delaware	94-3173928
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)
3160 Porter Drive
Palo Alto, CA	94304
(Address of principal executive offices)	(Zip Code)

2.00% Convertible Senior Notes Due March 30, 2015
(Title of the indenture securities)

Item 1.           General Information.

	Furnish the following information as to the trustee:
(a)	Name and address of each examining or supervising authority to which it is subject.
	Comptroller of the Currency, Washington, D.C. Board of Governors of the Federal Reserve System, Washington, D.C.
(b)	Whether it is authorized to exercise corporate trust powers.
	Yes.

Item 2.          Affiliations with Obligor.

If the Obligor is an affiliate of the trustee, describe each such affiliation.

None.

Items 3-15. No responses are included for Items 3-15 of this Form T-1 because the Obligor is not in default as provided under Item 13.

Item 16.           List of Exhibits.

List below all exhibits filed as part of this statement of eligibility.
Exhibit 1.	Articles of Association of the Trustee as Now in Effect (see Exhibit 1 to Form T-1 filed in connection with Form 8-K of the Southern California Water Company filing, dated December 7, 2001, which is incorporated by reference).
Exhibit 2.	Certificate of Authority of the Trustee to Commence Business (see Exhibit 2 to Form T-1 filed in connection with Registration Statement No. 333-41329, which is incorporated by reference).
Exhibit 3.	Authorization of the Trustee to Exercise Corporate Trust Powers (contained in Exhibit 2).
Exhibit 4.	Existing By-Laws of the Trustee (see Exhibit 4 to Form T-1 filed in connection with Form 8K of the Southern California Water Company filing, dated December 7, 2001, which is incorporated by reference).
Exhibit 5.	Not Applicable
Exhibit 6.	The consent of the Trustee required by Section 321 (b) of the Act (see Exhibit 6 to Form T-1 filed in connection with Registration Statement No. 333-41329, which is incorporated by reference).
Exhibit 7.	A copy of the latest report of condition of the Trustee, published pursuant to law or the requirements of its supervising or examining authority.
Exhibit 8.	Not Applicable
Exhibit 9.	Not Applicable

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SIGNATURE

          Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, J. P. Morgan Trust Company, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Houston, and State of Texas, on the 13th day of March, 2006.

J. P. Morgan Trust Company, National Association
	By:	/s/ Mary Jane Henson
		Mary Jane Henson Vice President

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Exhibit 7.          Report of Condition of the Trustee.

Consolidated Report of Condition ofJ.P. Morgan Trust Company, N.A., (formerly Chase Manhattan Bank and Trust Company, N.A.)

(Legal Title)

Located at	1800 Century Park East, Ste. 400	Los Angeles,	CA		90067
	(Street)	(City)	(State)	(Zip)

as of close of business on December 31, 2005

ASSETSDOLLAR AMOUNTS IN THOUSANDS

J. P. Morgan Trust Company, National Association
Statement of Condition

31-Dec-05

	($000)
Assets
Cash and Due From Banks		25,733
Securities		215,596
Loans and Leases		135,923
Premises and Fixed Assets		6,802
Intangible Assets		349,515
Goodwill		202,094
Other Assets		47,157
Total Assets		982,820
Liabilities
Deposits		96,108
Other Liabilities		54,523
Total Liabilities		150,631
Equity Capital
Common Stock		600
Surplus		701,587
Retained Earnings		130,002
Total Equity Capital		832,189
Total Liabilities and Equity Capital		982,820

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