Vanda receives revised unsolicited takeover proposal from Future Pak at $7.25-$7.75/share plus CVRs

Vanda Pharmaceuticals Inc.

Revised proposal of $7.25-$7.75 per share in cash plus Contingent Value Rights (CVRs).
Vanda's Board will evaluate the proposal with its financial and legal advisors.
Prior proposal at same price range was rejected by Vanda.
No shareholder action required at this time.

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