Description of Business and Basis of Presentation

12 Months Ended

Dec. 31, 2014

Description of Business and Basis of Presentation

Description of Business and Basis of Presentation

1.        Description of Business and Basis of Presentation

              Description of Business—Insmed is a biopharmaceutical company dedicated to improving the lives of patients battling serious lung diseases. The Company is focused on the development and commercialization of ARIKAYCE, or liposomal amikacin for inhalation, for at least two identified orphan patient populations: patients with nontuberculous mycobacteria (NTM) lung infections and cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections. The Company is also focused on the development of INS1009, an inhaled treprostinil prodrug. Treprostinil is a prostacyclin used in the treatment of pulmonary arterial hypertension (PAH), a chronic, life-threatening disorder characterized by abnormally high blood pressure in the arteries between the heart and lungs.

              The Company was incorporated in the Commonwealth of Virginia on November 29, 1999. On December 1, 2010, the Company completed a business combination with Transave, Inc. (Transave), a privately held, New Jersey-based pharmaceutical company focused on the development of differentiated and innovative inhaled pharmaceuticals for the treatment of serious lung infections. The Company's continuing operations are based on the technology and products historically developed by Transave. The Company's principal executive offices are located in Bridgewater, New Jersey.

              Basis of Presentation—The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Transave, LLC, Insmed Pharmaceuticals, Incorporated, Insmed Limited, Celtrix Pharmaceuticals, Incorporated (Celtrix), Insmed Holdings Limited and Insmed Ireland Limited. All significant intercompany balances and transactions have been eliminated in consolidation.