Sec Form 4 Filing - GRANGE DAVID L @ PHARMACEUTICAL PRODUCT DEVELOPMENT INC - 2011-02-28

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person GRANGE DAVID L 2. Issuer Name and Ticker or Trading Symbol PHARMACEUTICAL PRODUCT DEVELOPMENT INC [ PPDI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Executive Officer (Last) (First) (Middle) 929 NORTH FRONT STREET 3. Date of Earliest Transaction (MM/DD/YY) 02/28/2011 (Street) WILMINGTON, NC28401 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 02/28/2011 M 34,501 A $ 20.45 95,546 ( 1 ) D Common Stock 02/28/2011 S 34,501 D $ 26 61,045 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Options (to buy) $ 20.45 02/28/2011 M 34,501 02/25/2011( 3 ) 02/25/2020 Common Stock 34,501 $ 0 69,005 D Stock Options (to buy) $ 21.98 07/01/2010( 4 ) 07/01/2019 Common Stock 155,259 155,259 D Stock Options (to buy) $ 26.64 06/17/2011( 2 ) 06/17/2020 Common Stock 50,000 50,000 D Stock Options (to buy) $ 41.32 05/21/2008 05/20/2018 Common Stock 6,485 6,485 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other GRANGE DAVID L 929 NORTH FRONT STREET WILMINGTON, NC28401 X Chief Executive Officer Signatures Lisa C. Noecker attorney-in-fact for David L. Grange 03/01/2011 Signature of Reporting Person Date

Explanation of Responses:

( 1 )50,000 shares of restricted stock were granted upon the Reporting Person's acceptance of employment as Chief Executive Officer. These shares vest in four equal increments on 7/1/10, 7/1/11, 7/1/12 and 7/1/13. ( 2 )The options vest in three equal installments on 6/17/11, 6/17/12 and 6/17/13. ( 3 )The options vest in three equal installments on 2/25/11, 2/25/12 and 2/25/13. ( 4 )The options vest in four equal installments of 50,000 on 7/1/10, 7/1/11, 7/1/12 and 7/1/13.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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