$50-Million Gift Creates Largest U.S. Medical-Research Prize

An 89-year-old philanthropist is donating $50-million to create the nation's largest medical-research prize.

The Albany Medical Center Prize in Medicine and Biomedical Research will be given out in $500,000 awards for each of the next 100 years, beginning next year.

To be eligible, researchers must be preeminent in their fields, and their research must have medical implications that are national or international in scope. The prize will be open to

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