PHARMACEUTICAL PRODUCT DEVELOPMENT INC
4TH AMEND. TO LOAN AGREEMENT
<DOCUMENT>
<TYPE>EX-10.147
<SEQUENCE>4
<FILENAME>0004.txt
<DESCRIPTION>4TH AMEND. TO LOAN AGREEMENT
<TEXT>

                                FOURTH AMENDMENT

         THIS FOURTH AMENDMENT (this "Amendment") dated as of June 30, 2000, to
the Loan Agreement referenced below, is by and among Pharmaceutical Product
Development, Inc., a North Carolina corporation (the "Borrower"), the
Subsidiaries of the Borrower identified on the signature pages hereto (the
"Guarantors") and First Union National Bank (the "Bank"). Terms used herein but
not otherwise defined herein shall have the meanings provided to such terms in
the Loan Agreement.

                               W I T N E S S E T H

         WHEREAS, a $50 million credit facility has been established in favor of
the Borrower pursuant to the terms of that Loan Agreement dated as of June 24,
1998 (as amended and modified from time to time, the "Loan Agreement") among the
Borrower, the Guarantors and the Bank;

         WHEREAS, the Borrower has requested certain modifications to Loan
Agreement;

         WHEREAS, the Bank has agreed to the modifications on the terms and
conditions set forth herein;

         NOW, THEREFORE, IN CONSIDERATION of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

         1. The definition of "Termination Date" in Section 1.1 of the Loan
         Agreement is amended to read as follows:

                  "Termination Date" means June 30, 2001, or such later date as
                  to which the Bank may agree in its sole discretion.

         2. This Amendment shall be effective upon execution of this Amendment
by the Borrower, the Guarantors and the Bank.

         3. Except as modified hereby, all of the terms and provisions of the
Loan Agreement (including Schedules and Exhibits) shall remain in full force and
effect.

         4. The Borrower agree to pay all reasonable costs and expenses of the
Bank in connection with the preparation, execution and delivery of this
Amendment, including without limitation the reasonable fees and expenses of
Moore & Van Allen, PLLC.

         5. This Amendment may be executed in any number of counterparts, each
of which when so executed and delivered shall be deemed an original and it shall
not be necessary in making proof of this Amendment to produce or account for
more than one such counterpart.

         6. This Amendment shall be deemed to be a contract made under, and for
all purposes shall be construed in accordance with, the laws of the State of
North Carolina.

                  [Remainder of Page Intentionally Left Blank]


<PAGE>
         IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart
of this Amendment to be duly executed and delivered as of the date first above
written.

BORROWER:                           PHARMACEUTICAL PRODUCT DEVELOPMENT, INC.,
                                    a North Carolina corporation

                                    By:    /s/ Fredric N. Eshelman
                                       ---------------------------------
                                    Name:  Fredric N. Eshelman
                                    Title:  Chief Executive Officer


GUARANTORS:                         PPD DEVELOPMENT, INC.,
                                    a Texas corporation

                                    By: /s/ Fredric N. Eshelman
                                       ---------------------------------
                                    Name:  Fredric N. Eshelman
                                    Title:  Chief Executive Officer


BANK:                               FIRST UNION NATIONAL BANK

                                    By:  /s/  Shannon S. Townsend
                                       ---------------------------------
                                    Name:  Shannon S. Townsend
                                    Title:  Vice President

</TEXT>
</DOCUMENT>
