8-K

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 (Date of earliest event reported) April 2, 2008

PHARMACEUTICAL PRODUCT DEVELOPMENT, INC.

(Exact name of registrant as specified in its charter)

North Carolina

(State or other jurisdiction of incorporation)

0-27570	56-1640186
(Commission File Number)	(IRS Employer ID Number)

929 North Front Street, Wilmington, North Carolina 28401

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (910) 251-0081

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement with Certain Officers.

(b) On April 2, 2008, Paul S. Covington, M.D., notified the Company that he is retiring from his position as the Executive Vice President of Development and Chief Medical Officer of PPD Development, LP, a wholly owned subsidiary of the Company effective June 30, 2008. He has agreed to continue his employment in the position of a special project advisor through January 2009 to assist on selected projects and the transition of his responsibilities.

Item 7.01. Regulation FD Disclosure.

The Company is furnishing as an exhibit to this Form 8-K a press release, dated April 3, 2008, describing Dr. Covington’s resignation.

Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1*	Press release dated April 3, 2008.

* Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURE

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.

	PHARMACEUTICAL PRODUCT DEVELOPMENT, INC.
Date: April 2, 2008
	/s/ Daniel G. Darazsdi
	Daniel G. Darazsdi,
	Chief Financial Officer

EX-99.1

Exhibit 99.1

Contacts

Media:

Sue Ann Pentecost

+919 456 5890

sueann.pentecost@rtp.ppdi.com

Analysts/Investors:

Craig Eastwood

+910 558 7585

craig.eastwood@wilm.ppdi.com

FOR IMMEDIATE RELEASE

Paul Covington to Retire from PPD

WILMINGTON, N.C. (April 3, 2008) – PPD, Inc. (Nasdaq: PPDI) today announced that Paul Covington, M.D., is retiring as executive vice president of development and chief medical officer effective June 30. He will serve as a special project adviser to PPD through January 2009 to assist with selected projects and the transition of his responsibilities.

“Paul is one of the most talented physicians in our industry, and his leadership and unwavering commitment to excellence have played a significant role in the continued growth and success of our company,” said Fred Eshelman, chief executive officer. “I am grateful for Paul’s many contributions and tireless efforts during his 17-year tenure with PPD. On behalf of our board of directors and all of our employees, I wish him well in his retirement and immense satisfaction in his pursuit of personal interests outside of our industry.”

In his current role, Dr. Covington has global responsibility for regulatory affairs, pharmacovigilance, medical communications, laboratory and Phase I services. He joined PPD in 1991 as medical director and served as senior vice president of medical and regulatory affairs and chief safety officer prior to being promoted to his current role in 2002.

PPD anticipates being in a position to name a successor to Dr. Covington by mid-2008. The company also expects to enter into a consulting agreement with Dr. Covington following his full retirement in 2009.

PPD is a leading global contract research organization providing discovery, development and post-approval services as well as compound partnering programs. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 30 countries and more than 10,200 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help its clients and partners maximize returns on their R&D investments and accelerate the delivery of safe and effective therapeutics to patients. For more information, visit our Web site at http://www.ppdi.com.

Except for historical information, all of the statements, expectations and assumptions contained in this news release, including expectations and assumptions about the impact of the retirement of Dr. Covington, are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors which could cause results to differ materially include the following: the ability to attract and retain key personnel; competition within the outsourcing industry; continued success in sales growth; loss of large contracts; increased cancellation rates; economic conditions and outsourcing trends in the pharmaceutical, biotechnology, medical device, academic and government industry segments; risks associated with and dependence on collaborative relationships; risks associated with the development and commercialization of drugs, including earnings dilution and obtaining regulatory approval; risks associated with acquisitions and investments, such as impairments; rapid technological advances that make our products and services less competitive; risks that we may not continue our dividend policy; and the other risk factors set forth from time to time in the SEC filings for PPD, copies of which are available free of charge upon request from the PPD investor relations department.

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