Vanda Pharmaceuticals Inc. (“Vanda” or the “Company”) (Nasdaq: VNDA) confirms that it has received a revised unsolicited proposal from Future Pak, LLC (“FP”) to acquire Vanda for $8.50-$9.00 per share in cash plus certain Contingent Value Rights. Consistent with its fiduciary duties, and in consultation with its financial and legal advisors, Vanda’s Board will carefully review and evaluate the revised, non-binding proposal to determine the course of action that it believes is in the best interests of the Company and its shareholders.
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