Future Pak proposes acquisition of Vanda Pharmaceuticals for $7.25 to $7.75 per share in cash
04/17/24, 10:42 AM
Location
wixomwashingtonIndustry
pharmaceutical
biotechnology
manufacturing
biopharma
therapeutics
pharmaceutical
biotechnology
health care
Future Pak LLC has submitted a proposal to acquire all outstanding shares of common stock of Vanda Pharmaceuticals, Inc. for a cash consideration of $7.25 to $7.75 per share. The proposal implies a premium of 79.0% to 91.4% to Vanda's closing price as of April 16, 2024. Future Pak remains hopeful that the public disclosure of its interest will encourage shareholders to express their views on the proposal and on the Vanda Board’s responsibility to assess the highest and best price achievable for shareholders.
Company Info
Location
Wixom, Michigan, United States
Company info
Future Pak LLC is a privately-held contract manufacturer and packager of pharmaceutical and nutraceutical products. The company has access to retail, specialty, and institutional customers through its expansive partner network. Leveraging its existing infrastructure, Future Pak seeks to make a positive impact on patients by utilizing its reliable supply chain and its quality-first approach. It was incorporated in 1977 and is based in Wixom, Michigan.