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Nobel Prize for Medicine Announced Today

October 12, 1987

STOCKHOLM, Sweden (AP) _ The Royal Swedish Academy of Sciences today announces the winner of the Nobel Prize for medicine, one of the six prestigious awards given each year.

The Nobel Prizes for medicine, peace, chemistry, physics, literature and economic science are among the world’s richest. Each is worth 2,175,000 Swedish kroner, about $340,000. If more than one person wins a category, the money is shared.

The other prize winners will be announced this month.

Last year’s winners of the Nobel Prize for medicine were Stanley Cohen of the United States and Rita Levi-Montalcini, of Italy and the United States, for discoveries of ″growth factors″ in human and animal tissue.

The first five prizes were detailed in the will that Swedish industrialist Alfred Nobel wrote in 1895, a year before his death. In 1968, the Bank of Sweden created the Nobel Memorial Prize in Economic Science. Nobel prizes have been awarded since 1901.

The Nobel Foundation, established in 1900 to administer his estate, pays for the first five prizes and the Bank of Sweden funds the economic science prize.

The Royal Swedish Academy of Sciences will name recipients of the chemistry and physics prizes on Wednesday.

In Oslo, Norway, a five-man committee appointed by the Norwegian Parliament will announce on Tuesday the winner of the Nobel Peace Prize, perhaps the world’s most coveted award.

The recipient of the economic science prize will be announced Oct. 21 in Stockholm.

The announcement of the literature winner will be made at 1 p.m. on a Thursday in October in Stockholm’s 18th-century stock market building. The date has not yet been disclosed.

The literature prize is announced by the 18-member Swedish Academy, founded 300 years ago to monitor the development of the Swedish language.

A self-educated man who never married, Nobel left an estate worth about $31.5 million at the time of his death. Nobel is credited with inventing dynamite, a cornerstone of his business empire.

By the end of 1986, the Nobel Foundation’s endowment was $67 million. The foundation reported an operating profit of $4 million last year.

Nobel’s will determined that the fortune he amassed should go toward those who ″have conferred the greatest benefit on mankind.″

Sweden and Norway were under one monarchy when Nobel established the awards. He never said why he wanted Norway, which became independent in 1905, to pick the peace prize winner.

The peace prize committee is comprised of a retired newspaper editor, an economics professor, a Lutheran minister, an author and a former prime minister, Odvar Mordli.

The Norwegian press has picked as favorites for the peace prize President Corazon Aquino of the Philippines, President Raul Alfonsin of Argentina, and the World Health Organization, the Geneva-based United Nations body.

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