April 17 (Reuters) - Vanda Pharmaceuticals Inc ( VNDA ):
* FUTURE PAK CONFIRMS PROPOSAL TO ACQUIRE VANDA
PHARMACEUTICALS
FOR $7.25 TO $7.75 PER SHARE IN CASH
* FUTURE PAK - PROPOSES TO ACQUIRE 100% OF ISSUED AND
OUTSTANDING
SHARES OF VANDA
* FUTURE PAK LLC : WOULD NOT REQUIRE A FINANCING CONTINGENCY
IN
CONNECTION WITH A TRANSACTION
* FUTURE PAK : BELIEVES IT COULD REACH A DEFINITIVE
AGREEMENT WITH
VANDA AND ANNOUNCE A TRANSACTION IN FOUR TO SIX WEEKS
* FUTURE PAK - OPEN TO INCREASING VALUE OF ITS OFFER BASED
ON DUE
DILIGENCE AND GOOD FAITH NEGOTIATIONS WITH VANDA AND ITS BOARD
* FUTURE PAK- FUTURE PAK HAS ALSO EXPRESSED A WILLINGNESS TO
EXPLORE VARIOUS WAYS TO FURTHER IMPROVE ITS PROPOSAL
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