1
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                          Date of Report: April 3, 2000



                         Commission File Number: 0-18976


                          CELTRIX PHARMACEUTICALS, INC.
             (Exact name of registrant as specified in its charter)



                                         
            DELAWARE                                   94-3121462
  (State or other jurisdiction              (I.R.S. Employer Identification No.)
of incorporation or organization)



                2033 Gateway Place, Suite 600, San Jose, CA 95110
              (Address of principal executive offices and zip code)


                  Registrant's Telephone Number: (408) 988-2500



   2

ITEM 5. OTHER EVENTS

     On April 3, 2000, Celtrix Pharmaceuticals, Inc., a Delaware corporation
(the "Company") announced Celtrix Receives Key U.S. Patent to Treat Diabetes.
Further details regarding this announcement are contained in the Company's news
release dated April 3, 2000, attached as exhibit hereto and incorporated by
reference herein.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

     (a)  EXHIBITS

                    
          Exhibit 21   Celtrix Pharmaceuticals, Inc. News Release dated April 3,
                       2000.




                                       2

   3

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
















                                      CELTRIX PHARMACEUTICALS, INC. (Registrant)


Date:  April 3, 2000                  By: /s/ DONALD D. HUFFMAN
                                          -------------------------
                                      Donald D. Huffman
                                      Vice President, Finance & Administration
                                      Chief Financial Officer (Duly authorized
                                      principal financial and accounting
                                      officer.)


                                       3

   4

                          CELTRIX PHARMACEUTICALS, INC.
                                INDEX TO EXHIBITS



Exhibit Number
- --------------
              
  Exhibit 21     Celtrix Pharmaceuticals, Inc. Press Release dated April 3, 2000.



                                       4