Tuesday, June 17, 2008

Indian Donates USD $11 Million

Indian American donates $11million to US university

By Parveen Chopra (IANS)

15 June 2008
 
NEW YORK - An Indian American, a native of Amritsar, has become the top individual donor to a US university, his alma mater, by gifting it nearly $11 million.

John P. Kapoor, a pharmaceutical entrepreneur, bequested the money to the State University of New York at Buffalo, which had offered him a graduate fellowship in the 1960s when the Bombay University graduate could not afford to pay.

The gift will support construction of a new home for the Buffalo university's nationally ranked pharmacy school, as well as to fund research, student financial aid and an emerging-technologies fund.

While making the bequest, Kapoor said, "I owe so much to this university. Fortunately, I am in a position to help, and the university is on the top of my list."

The Amritsar-born Kapoor earned his doctorate in medicinal chemistry in 1972 at the university and went on to become an entrepreneur in the pharmaceutical industry. But he never forgot his alma mater. In 2000, he gave it $5 million, and increased it to $10.8 million last month.

John B. Simpson, president of the university, and Wayne K. Anderson, dean, School of Pharmacy and Pharmaceutical Sciences, thanked Kapoor.

"It's a point of substantial pride for us that our pharmacy school provided the foundation for Dr Kapoor's remarkable career in the pharmaceutical industry. It is very significant to our university that he has chosen to honour his alma mater with another truly extraordinary gift that will help us take the school to even greater heights of excellence," Simpson said. 

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