INHALE THERAPEUTIC SYSTEMS INC
EXHIBIT 10.27D
<DOCUMENT>
<TYPE>EX-10.27D
<SEQUENCE>6
<FILENAME>a2037589zex-10_27d.txt
<DESCRIPTION>EXHIBIT 10.27D
<TEXT>

<PAGE>

                                  EXHIBIT 10.27D

[**]


[**] CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH
RESPECT TO THE OMITTED PORTIONS.

</TEXT>
</DOCUMENT>
