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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   FORM 10-K/A
                                 Amendment No. 1

(Mark One)

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

     For the fiscal year ended December 31, 2001

                                       OR

[_]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from _______________ to _______________

                         Commission file number 0-27570

                    PHARMACEUTICAL PRODUCT DEVELOPMENT, INC.
             (Exact name of registrant as specified in its charter)

            North Carolina                                56-1640186
   (State or other jurisdiction of            (IRS Employer Identification No.)
    incorporation or organization)

        3151 South Seventeenth Street
          Wilmington, North Carolina                        28412
   (Address of principal executive offices)               (Zip Code)


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

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:

                     Common Stock, par value $0.10 per share
                                (Title of class)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X  No ____
                                      ---

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]

The aggregate market value of the common stock held by non-affiliates of the
registrant was approximately $1.3 billion as of May 1, 2002, based upon the
closing price of the Common Stock on that date on the NASDAQ National Market
System. Shares of Common Stock held by each executive officer and director and
by each person who owns 10% or more of the outstanding Common Stock have been
excluded in that such persons may be deemed to be affiliates. This determination
of affiliate status might not be conclusive for other purposes.

The number of shares outstanding of the registrant's class of Common Stock, par
value $0.10 per share, was 55,177,795 as of May 1, 2002.

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                                Explanatory Note

     The registrant is filing this Amendment No. 1 on Form 10-K/A to file a
revised consent of its independent auditors consenting to the incorporation by
reference of the registrant's audited financial statements as of December 31,
2001 and 2000 and for each of the three years in the period ended December 31,
2001 into all of the registrant's existing effective registration statements on
Form S-8. The revised consent is filed herewith as Exhibit 23.1 and supersedes
and replaces the consent filed as Exhibit 23.1 to the registrant's Form 10-K
filed on February 21, 2002.

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        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.
                                  --------------------------------------------
                                                 (Registrant)


                              By  /s/                Linda Baddour
                                     ---------------------------------------
                                            Chief Financial Officer
                                         (Principal Financial Officer)


Date: May 20, 2002