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                                                                    EXHIBIT 23.1


               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

   
     We consent to the reference to our firm under the caption "Experts" in
Amendment No. 1 to the Registration Statement (Form S-3, No. 333-61873) and the
related Prospectus of Celtrix Pharmaceuticals, Inc. for the registration of
10,075,000 shares of its common stock and to the incorporation by reference
therein of our report dated April 24, 1998, with respect to the consolidated
financial statements of Celtrix Pharmaceuticals, Inc. included in the Annual
Report (Form 10-K) for the year ended March 31, 1998, filed with the Securities
and Exchange Commission. 
    

   
                                                  /s/ Ernst & Young LLP

Palo Alto, California
December 11, 1998