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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