SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                ----------------

                                 SCHEDULE 13G/A
                                 (Rule 13d-102)

                                ----------------

                                 Amendment No. 2

    INFORMATION TO BE INCLUDED IN STATEMENTS PURSUANT TO RULES 13d-1(b), (c)
        AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 UNDER THE
                         SECURITIES EXCHANGE ACT OF 1934

                           VANDA PHARMACEUTICALS INC.
                                (Name of Issuer)

                    COMMON STOCK, PAR VALUE $0.001 PER SHARE
                         (Title of Class of Securities)

                                    921659108
                                 (CUSIP Number)

                                December 31, 2007
             (Date of Event Which Requires Filing of this Statement)

         Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

         [ ] Rule 13d-1(b)

         [X] Rule 13d-1(c)

         [ ] Rule 13d-1(d)

-----------

         * The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

         The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 (the "Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).






Schedule 13G/A
CUSIP No. 921659108                                            PAGE 2 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Davidson Kempner Partners
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       New York
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 PN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 3 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Davidson Kempner Institutional Partners, L.P.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       Delaware
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 PN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 4 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      M. H. Davidson & Co.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       New York
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 PN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 5 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Davidson Kempner International, Ltd.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       British Virgin Islands
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 CO
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 6 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Serena Limited
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       Cayman Islands
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 CO
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 7 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Davidson Kempner Healthcare Fund LP
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       Delaware
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 PN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 8 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Davidson Kempner Healthcare International Ltd.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       Cayman Islands
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 CO
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 9 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      MHD Management Co.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       New York
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 PN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 10 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Davidson Kempner Advisers Inc.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       New York
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IA
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 11 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Davidson Kempner International Advisors, L.L.C.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       Delaware
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 OO
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 12 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      DK Group LLC
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                                    Delaware
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 OO
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 13 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      DK Management Partners LP
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       Delaware
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 PN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 14 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      DK Stillwater GP LLC
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       Delaware
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 OO
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 15 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Thomas L. Kempner, Jr.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES               [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 16 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Marvin H. Davidson
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 17 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Stephen M. Dowicz
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 18 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Scott E. Davidson
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 19 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Michael J. Leffell
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 20 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Timothy I. Levart
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United Kingdom & United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 21 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Robert J. Brivio, Jr.
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 22 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Eric P. Epstein
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 23 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Anthony A. Yoseloff
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 24 OF 42

------------------------------------------------------------------------------
(1)   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Avram Z. Friedman
------------------------------------------------------------------------------
(2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                               (a) [ ]
                                                               (b) [X]
------------------------------------------------------------------------------
(3)   SEC USE ONLY
------------------------------------------------------------------------------
(4)   CITIZENSHIP OR PLACE OF ORGANIZATION
                       United States
------------------------------------------------------------------------------

NUMBER OF         (5)  SOLE VOTING POWER
                                 0
SHARES            ____________________________________________________________

BENEFICIALLY      (6)  SHARED VOTING POWER
                                 0
OWNED BY          ____________________________________________________________

EACH              (7)  SOLE DISPOSITIVE POWER
                                 0
REPORTING         ____________________________________________________________

PERSON WITH       (8)  SHARED DISPOSITIVE POWER
                                 0
------------------------------------------------------------------------------
      (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                 0
------------------------------------------------------------------------------
      (10)  CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
      (11)  PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                 0.0%
------------------------------------------------------------------------------
      (12)  TYPE OF REPORTING PERSON
                                 IN
------------------------------------------------------------------------------





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 25 OF 42


ITEM 1(a).  NAME OF ISSUER:

            Vanda Pharmaceuticals Inc. (the "Company")

ITEM 1(b).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

            9605 Medical Center Drive, Suite 300
            Rockville, Maryland 20850

ITEM 2(a).  NAME OF PERSON FILING:

     This Statement is filed by each of the entities and persons listed below,
all of whom together are referred to herein as the "Reporting Persons":

            (i)     Davidson Kempner Partners, a New York limited
                    partnership ("DKP");

            (ii)    Davidson Kempner Institutional Partners, L.P., a
                    Delaware limited partnership ("DKIP");

            (iii)   M. H. Davidson & Co., a New York limited partnership
                    ("CO");

            (iv)    Davidson Kempner International, Ltd., a British
                    Virgin Islands corporation ("DKIL");

            (v)     Serena Limited, a Cayman Islands corporation
                    ("Serena");

            (vi)    Davidson Kempner Healthcare Fund LP, a Delaware
                    limited partnership ("DKHF");

            (vii)   Davidson Kempner Healthcare International Ltd., a
                    Cayman Islands corporation ("DKHI");

            (viii)  MHD Management Co., a New York limited partnership
                    and the general partner of DKP ("MHD");

            (ix)    Davidson Kempner Advisers Inc., a New York
                    corporation and the general partner of DKIP ("DKAI"),
                    which is registered as an investment adviser with the
                    U.S. Securities and Exchange Commission;

            (x)     Davidson Kempner International Advisors, L.L.C., a
                    Delaware limited liability company and the manager of
                    DKIL and Serena ("DKIA");

            (xi)    DK Group LLC, a Delaware limited liability company
                    and the general partner of DKHF ("DKG");

            (xii)   DK Management Partners LP, a Delaware limited
                    partnership and the investment manager of DKHI
                    ("DKMP");





Schedule 13G/A
CUSIP No. 921659108                                           PAGE 26 OF 42


            (xiii)  DK Stillwater GP LLC, a Delaware limited liability
                    company and the general partner of DKMP ("DKS"); and

            (xiv)   Messrs. Thomas L. Kempner, Jr., Marvin H. Davidson, Stephen
                    M. Dowicz, Scott E. Davidson, Michael J. Leffell, Timothy I.
                    Levart, Robert J. Brivio, Jr., Anthony A. Yoseloff, Eric P.
                    Epstein and Avram Z. Friedman (collectively, the
                    "Principals"), who are the general partners of CO and MHD,
                    the sole managing members of DKIA and DKG and the sole
                    stockholders of DKAI. Messrs. Thomas L. Kempner, Jr. and
                    Timothy I. Levart are Executive Managing Member and Deputy
                    Executive Managing Member, respectively, of DKS. Each of
                    Messrs. Kempner and Levart, together with Messrs. Marvin H.
                    Davidson, Stephen M. Dowicz, Scott E. Davidson, Michael J.
                    Leffell, Robert J. Brivio, Jr., Anthony A. Yoseloff, Eric P.
                    Epstein and Avram Z. Friedman are limited partners of DKMP.

ITEM 2(b).  ADDRESS OF PRINCIPAL BUSINESS OFFICE:

     The address of the principal business office of each of the Reporting
Persons is c/o Davidson Kempner Partners, 65 East 55th Street, 19th Floor, New
York, New York 10022.

ITEM 2(c).  CITIZENSHIP:

            (i)     DKP - a New York limited partnership

            (ii)    DKIP - a Delaware limited partnership

            (iii)   CO - a New York limited partnership

            (iv)    DKIL - a British Virgin Islands corporation

            (v)     Serena - a Cayman Islands corporation

            (vi)    DKHF - a Delaware limited partnership

            (vii)   DKHI - a Cayman Islands corporation

            (viii)  MHD - a New York limited partnership

            (ix)    DKAI - a New York corporation

            (x)     DKIA - a Delaware limited liability company

            (xi)    DKG - a Delaware limited liability company

            (xii)   DKMP - a Delaware limited partnership

            (xiii)  DKS - a Delaware limited liability company

            (xiv)   Thomas L. Kempner, Jr. - United States





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 27 OF 42


            (xv)    Marvin H. Davidson - United States

            (xvi)   Stephen M. Dowicz - United States

            (xvii)  Scott E. Davidson -United States

            (xviii) Michael J. Leffell - United States

            (xix)   Timothy I. Levart - United Kingdom & United States

            (xx)    Robert J. Brivio, Jr. - United States

            (xxi)   Eric P. Epstein - United States

            (xxii)  Anthony A. Yoseloff - United States

            (xxiii) Avram Z. Friedman - United States

ITEM 2(d).  TITLE OF CLASS OF SECURITIES:

     COMMON STOCK, PAR VALUE $0.001 PER SHARE

ITEM 2(e).  CUSIP NUMBER:

     921659108

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 13d-2(b) OR (c),
CHECK WHETHER THE PERSON FILING IS A:

            (a) [ ]   Broker or dealer registered under Section 15 of the Act;

            (b) [ ]   Bank as defined in Section 3(a)(6) of the Act;

            (c) [ ]   Insurance Company as defined in Section 3(a)(19) of the
                      Act;

            (d) [ ]   Investment Company registered under Section 8 of the
                      Investment Company Act of 1940;

            (e) [ ]   Investment Adviser registered under Section 203 of the
                      Investment Advisers Act of 1940:  see Rule
                      13d-1(b)(1)(ii)(E);

            (f) [ ]   Employee Benefit Plan, Pension Fund which is subject
                      to the provisions of the Employee Retirement Income
                      Security Act of 1974 or Endowment Fund; see Rule
                      13d-1(b)(1)(ii)(F);

            (g) [ ]   Parent Holding Company, in accordance with
                      Rule 13d-1(b)(ii)(G);

            (h) [ ]   Savings Associations as defined in Section 3(b) of the
                      Federal Deposit Insurance Act;





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 28 OF 42


            (i) [ ]   Church Plan that is excluded from the definition of an
                      investment company under Section 3(c)(14) of the
                      Investment Company Act of 1940;

            (j) [ ]   Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

ITEM 4.     OWNERSHIP.

     A. DKP

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     B. DKIP

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 29 OF 42


     C. CO

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0
     D. DKIL

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     E. Serena

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     F. DKHF

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 30 OF 42


        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     G. DKHI

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     H. MHD

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     I. DKAI

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 31 OF 42


            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     J. DKIA

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     K. DKG

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     L. DKMP

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 32 OF 42


            (iv)  shared power to dispose or to direct the disposition: 0

     M. DKS

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     N. Thomas L. Kempner, Jr.

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     O. Marvin H. Davidson

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 33 OF 42


     P. Stephen M. Dowicz

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     Q. Scott E. Davidson

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     R. Michael J. Leffell

        (a) Amount beneficially owned. 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     S. Timothy I. Levart

        (a) Amount beneficially owned: 0





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 34 OF 42


        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     T. Robert J. Brivio, Jr.

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     U. Eric P. Epstein

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     V. Anthony A. Yoseloff

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 35 OF 42


        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0

     W. Avram Z. Friedman

        (a) Amount beneficially owned: 0

        (b) Percent of class: 0.0%

        (c) Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote: 0

            (ii)  shared power to vote or to direct the vote: 0

            (iii) sole power to dispose or to direct the disposition: 0

            (iv)  shared power to dispose or to direct the disposition: 0


ITEM 5.     OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

            If this statement is being filed to report the fact as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].

ITEM 6.     OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

            Not applicable.

ITEM 7.     IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
            THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

            Not applicable.

ITEM 8.     IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

            See Item 4.

ITEM 9.     NOTICE OF DISSOLUTION OF GROUP.





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 36 OF 42


            Not applicable.

ITEM 10.    CERTIFICATION.  (if filing pursuant to Rule 13d-1(c))

     Each of the Reporting Persons hereby makes the following certification:

     By signing below we certify that, to the best of our knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 37 OF 42


                                   SIGNATURES

     After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.

DATED:  February 14, 2008             DAVIDSON KEMPNER PARTNERS
                                      By: MHD Management Co.,
                                      its General Partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Managing Partner

                                      DAVIDSON KEMPNER INSTITUTIONAL
                                      PARTNERS, L.P.
                                      By: Davidson Kempner Advisers Inc.,
                                      its General Partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: President

                                      M.H. DAVIDSON & CO.

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Managing Partner

                                      DAVIDSON KEMPNER INTERNATIONAL, LTD.
                                      By: Davidson Kempner International
                                      Advisors, L.L.C.,
                                      its Investment Manager

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      SERENA LIMITED
                                      By: Davidson Kempner International
                                      Advisors, L.L.C.,
                                      its Investment Manager

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 38 OF 42


                                      DAVIDSON KEMPNER HEALTHCARE FUND LP
                                      By:  DK Group LLC,
                                      its General Partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      DAVIDSON KEMPNER HEALTHCARE
                                      INTERNATIONAL LTD.
                                      By:  DK Management Partners LP,
                                      its Investment Manager
                                      By:  DK Stillwater GP LLC,
                                      its general partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      MHD MANAGEMENT CO.

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Managing Partner

                                      DAVIDSON KEMPNER ADVISERS INC.

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: President

                                      DAVIDSON KEMPNER INTERNATIONAL
                                      ADVISORS, L.L.C.

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      DK GROUP LLC

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 39 OF 42


                                      DK MANAGEMENT PARTNERS LP
                                      By:  DK Stillwater GP LLC,
                                      its general partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      DK STILLWATER GP LLC

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Thomas L. Kempner, Jr.

                                      /s/ Marvin H. Davidson
                                      ----------------------------------
                                      Marvin H. Davidson

                                      /s/ Stephen M. Dowicz
                                      ----------------------------------
                                      Stephen M. Dowicz

                                      /s/ Scott E. Davidson
                                      ----------------------------------
                                      Scott E. Davidson

                                      /s/ Michael J. Leffell
                                      ----------------------------------
                                      Michael J. Leffell

                                      /s/ Timothy I. Levart
                                      ----------------------------------
                                      Timothy I. Levart

                                      /s/ Robert J. Brivio, Jr.
                                      ----------------------------------
                                      Robert J. Brivio, Jr.

                                      /s/ Eric P. Epstein
                                      ----------------------------------
                                      Eric P. Epstein

                                      /s/ Anthony A. Yoseloff
                                      ----------------------------------
                                      Anthony A. Yoseloff

                                      /s/ Avram Z. Friedman
                                      ----------------------------------
                                      Avram Z. Friedman





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 40 OF 42


                                    EXHIBIT 1

                           JOINT ACQUISITION STATEMENT

                            PURSUANT TO RULE 13d-1(k)

     The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G, shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.

DATED:  February 14, 2008             DAVIDSON KEMPNER PARTNERS
                                      By: MHD Management Co.,
                                      its General Partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Managing Partner

                                      DAVIDSON KEMPNER INSTITUTIONAL
                                      PARTNERS, L.P.
                                      By: Davidson Kempner Advisers Inc.,
                                      its General Partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: President

                                      M.H. DAVIDSON & CO.

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Managing Partner

                                      DAVIDSON KEMPNER INTERNATIONAL, LTD.
                                      By: Davidson Kempner International
                                      Advisors, L.L.C.,
                                      its Investment Manager

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 41 OF 42


                                      SERENA LIMITED
                                      By: Davidson Kempner International
                                      Advisors, L.L.C.,
                                      its Investment Manager

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      DAVIDSON KEMPNER HEALTHCARE FUND LP
                                      By:  DK Group LLC,
                                      its General Partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      DAVIDSON KEMPNER HEALTHCARE
                                      INTERNATIONAL LTD.
                                      By:  DK Management Partners LP,
                                      its Investment Manager
                                      By:  DK Stillwater GP LLC,
                                      its general partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      MHD MANAGEMENT CO.

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Managing Partner

                                      DAVIDSON KEMPNER ADVISERS INC.

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: President

                                      DAVIDSON KEMPNER INTERNATIONAL
                                      ADVISORS, L.L.C.

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member





Schedule 13G/A
CUSIP No. 921659108                                            PAGE 42 OF 42


                                      DK GROUP LLC

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      DK MANAGEMENT PARTNERS LP
                                      By:  DK Stillwater GP LLC,
                                      its general partner

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      DK STILLWATER GP LLC

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Name:  Thomas L. Kempner, Jr.
                                      Title: Executive Managing Member

                                      /s/ Thomas L. Kempner, Jr.
                                      ----------------------------------
                                      Thomas L. Kempner, Jr.

                                      /s/ Marvin H. Davidson
                                      ----------------------------------
                                      Marvin H. Davidson

                                      /s/ Stephen M. Dowicz
                                      ----------------------------------
                                      Stephen M. Dowicz

                                      /s/ Scott E. Davidson
                                      ----------------------------------
                                      Scott E. Davidson

                                      /s/ Michael J. Leffell
                                      ----------------------------------
                                      Michael J. Leffell

                                      /s/ Timothy I. Levart
                                      ----------------------------------
                                      Timothy I. Levart

                                      /s/ Robert J. Brivio, Jr.
                                      ----------------------------------
                                      Robert J. Brivio, Jr.

                                      /s/ Eric P. Epstein
                                      ----------------------------------
                                      Eric P. Epstein

                                      /s/ Anthony A. Yoseloff
                                      ----------------------------------
                                      Anthony A. Yoseloff

                                      /s/ Avram Z. Friedman
                                      ----------------------------------
                                      Avram Z. Friedman