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BUSINESS
September 1, 1987 | CARLA LAZZARESCHI, Times Staff Writer
VLI Corp., the Irvine contraceptive sponge maker, said Monday that it has agreed to be acquired by American Home Products Corp., a multibillion-dollar pharmaceutical and consumer-products company, in a deal valued at about $86 million. The $7-per-share buyout, unanimously approved by VLI's board Sunday, caps nearly a year of efforts by the company to find a secure home for both its innovative medical technology and its growing line of over-the-counter personal-care products.
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BUSINESS
November 10, 1987 | JOHN TIGHE, Times Staff Writer
Most of VLI Corp.'s 137 employees will be laid off and the Irvine contraceptive sponge maker will close its local plant sometime next year, after the company is acquired by American Home Products Corp., Thomas Berryman, VLI's chief financial officer, said Monday. Berryman said manufacturing will be moved by mid-1988 from a VLI-owned facility in Irvine to American Home's Whitehall Laboratories division in Hammonton, N.J.
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BUSINESS
October 9, 1987 | VICKY CLEPPER, Times Staff Writer
VLI Corp. reported a profit of nearly $500,000 for the first nine months of 1987, raising the possibility that the Irvine-based company could achieve a profitable year for the first time in its 12-year history. "Our No. 1 goal this year is profitability, and this positions us well to achieve our goal," said Robert A. Elliott, chairman and chief executive officer. He termed this a "turnaround year" for the personal-products company, which so far has posted just three profitable quarters.
BUSINESS
November 5, 1987 | JOHN TIGHE, Times Staff Writer
VLI Corp., an Irvine-based personal products manufacturer, has accepted a reduced, $78-million acquisition offer from American Home Products that eliminates uncertainties caused by the loss of a key patent on its Today brand contraceptive sponges. The company's revised pact with New York-based American Home will provide VLI stockholders with $6.25 per share in cash for a total of $78 million. American Home had originally agreed to acquire VLI for $7 per share, or $87.5 million.
BUSINESS
November 4, 1986 | ROBERT HANLEY, Times Staff Writer
VLI Corp. said Monday that it is holding "preliminary" talks that could lead to its acquisition by another company. The terse statement followed a request by the National Assn. of Securities Dealers asking VLI to explain the unusually heavy trading in its stock Friday. Robert Elliott, president of the Irvine-based maker of the Today contraceptive sponge, refused to identify the potential merger partner. "We have been asked not to mention that and we will abide that request," he said.
BUSINESS
November 10, 1987 | JOHN TIGHE, Times Staff Writer
Most of VLI Corp.'s 137 employees will be laid off and the Irvine contraceptive sponge maker will close its local plant sometime next year, after the company is acquired by American Home Products Corp., Thomas Berryman, VLI's chief financial officer, said Monday. Berryman said manufacturing will be moved by mid-1988 from a VLI-owned facility in Irvine to American Home's Whitehall Laboratories division in Hammonton, N.J.
BUSINESS
May 28, 1986
VLI Corp. said it has begun the third phase of clinical tests on its therapeutic sponge for treatment of bacterial vaginosis, a vaginal infection that the company says afflicts up to 10 million women a year. Irvine-based VLI, maker of the Today vaginal contraceptive sponge, said the therapeutic sponge will be tested on about 600 patients at 18 to 20 clinical centers around the nation during the next several months.
BUSINESS
January 29, 1985 | KATHLEEN DAY
VLI Corp. of Irvine, maker of the contraceptive sponge Today, announced Monday that it expects an expanded advertising budget to widen its fourth-quarter loss significantly, to $3.3 million from $32,817 in the year-ago quarter. It also expects losses for 1984 to reach $6.2 million. The anticipated fourth-quarter loss comes on a 28% increase in sales during the quarter, which are expected to reach $3.8 million, up from $2.35 million in the last quarter of 1983.
BUSINESS
October 19, 1985 | JAMES S. GRANELLI
Citing increasing sales of its Today contraceptive sponge, VLI Corp. reported that its losses dropped to $117,899 in the third quarter, considerably below the $1.97-million loss reported the year before. For the period ended Sept. 30, the company had sales of $4.1 million, a 41% jump over the $2.9 million recorded last year. Robert A. Elliott, president and chief executive officer, said the increasing sales allowed the company "to take advantage of greater production efficiencies."
BUSINESS
October 22, 1987 | JOHN TIGHE
VLI, the Irvine-based personal products manufacturer, said it has asked the U.S. Patent and Trademark Office to reconsider its denial of a critical patent for the company's Today brand contraceptive sponge. VLI lost the patent after it failed to make a $150 maintenance payment in July. In September, the patent office refused VLI's initial request for reinstatement of the patent.
BUSINESS
October 22, 1987 | JOHN TIGHE
VLI, the Irvine-based personal products manufacturer, said it has asked the U.S. Patent and Trademark Office to reconsider its denial of a critical patent for the company's Today brand contraceptive sponge. VLI lost the patent after it failed to make a $150 maintenance payment in July. In September, the patent office refused VLI's initial request for reinstatement of the patent.
BUSINESS
October 9, 1987 | VICKY CLEPPER, Times Staff Writer
VLI Corp. reported a profit of nearly $500,000 for the first nine months of 1987, raising the possibility that the Irvine-based company could achieve a profitable year for the first time in its 12-year history. "Our No. 1 goal this year is profitability, and this positions us well to achieve our goal," said Robert A. Elliott, chairman and chief executive officer. He termed this a "turnaround year" for the personal-products company, which so far has posted just three profitable quarters.
BUSINESS
September 27, 1987
It was the best of weeks and the worst of weeks for VLI Corp., the Irvine-based personal-products manufacturer. After an unexpected storm washed away 21% of VLI's stock value, puddle-jumping traders began picking up shares at what could be bargain prices. The week began with sunshine and roses for VLI shareholders. With a planned $7-per-share acquisition of VLI by American Home Products of Melville, N.Y., in the works, VLI stock was trading at about $6.
BUSINESS
September 25, 1987 | JOHN TIGHE, Times Staff Writer
It was only a $150 renewal fee, but by failing to pay it, VLI Corp. has been stripped at least for the time being of its prized patent on the Today brand contraceptive sponge. And the oversight could block the Irvine-based company's $86-million merger with American Home Products. American Home is proceeding with plans to buy VLI, but the offer depends on VLI's regaining the patent, which protects specific design features of the sponge. The U.S.
BUSINESS
September 24, 1987 | JOHN TIGHE, Times Staff Writer
VLI, the Irvine-based personal products manufacturer, said Wednesday that the loss of a critical patent on its Today brand contraceptive sponge could jeopardize the company's $86-million acquisition pact with American Home Products of New York. The acquisition of VLI by American Home Products is contingent on renewal of the Today patent, which lapsed in July, when VLI failed to pay a required maintenance fee on time, the company said. The U.S.
BUSINESS
September 19, 1987 | JAMES S. GRANELLI, Times Staff Writer
Taking advantage of a booming market for condoms, VLI Corp. said Friday that it has begun shipping its new Today brand to drugstores and mass merchandisers throughout the nation. The Irvine personal products company also has begun shipping its new Clearplan Ovulation Predictor, a test kit to help women predict more accurately when they are about to begin ovulation. The products should be on store shelves in a month or so, according to Robert Elliott, VLI's president and chief executive officer.
BUSINESS
November 1, 1986 | ROBERT HANLEY, Times Staff Writer
VLI Corp. was unusually active in the stock market Friday, with almost as many shares changing hands in six hours than in the entire month of September. Despite the heavy volume, company officials declined to comment Friday. A spokeswoman said a statement will be issued Monday morning. Shares of the Irvine-based contraceptive manufacturer jumped 50 cents Friday to close at $4.625 a share on heavy volume of 560,000 shares, which made VLI the 11th most active over-the-counter issue for the day.
BUSINESS
April 19, 1985
Officials of the Irvine firm said they will bring the "Today" contraceptive sponge to the People's Republic of China for discussions next month with the state Family Planning Commission. Although the talks concern the potential manufacturing and distribution of the sponge in China, VLI President Robert Elliott downplayed the possibility that the company would win a major order immediately.
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