WILMINGTON,PPD increased its financial guidance for 2004 by some $5 million on Monday after amending its license agreement with ALZA Corp., a subsidiary of Johnson & Johnson.

The deal involves Dapoxetine, a drug in Phase III trials intended to treat premature ejaculation. PPD (Nasdaq: PPDI) originally licensed the drug from Eli Lilly in 1998 and purchased the patents for $65 million in cash plus future royalties in December. PPD had licensed the drug to ALZA in 2001.

ALZA has made a cash payment to PPD as part of the new agreement. A milestone payment also will be made to PPD when a new drug application is issued by the FDA.

PPD: www.ppdi.com