August 17, 2006

            LANSING - Michigan Attorney General Mike Cox announced today the donation of $82,135.47 to Van Andel Institute to fight cancer.  The funds are the result of a settlement Cox reached with Bristol-Myers Squibb Company involving its anticancer drug Taxol.

            "Cancer is a harsh disease that affects all of us," said Cox.  "The Bristol-Myers Squibb Company crossed a line when its actions forced cancer patients to pay higher prices for their drugs.  It is only fitting that funds generated via this settlement should be directed toward an institution built on fighting cancer and aiding cancer patients."

            The settlement stemmed from a lawsuit asserting that, because of invalid patents claimed by the Bristol-Myers Squibb Company for its anticancer drug Taxol, lower cost generic substitutes were delayed in arriving on the market resulting in higher prices to those who paid for the drug.

            The State of Michigan received $857,811.25 and 264 Michigan consumers received approximately $146,838 from the multi-state settlement with Bristol-Myers Squibb.  The money donated to the Van Andel Institute is not part of the $857,811.25, but is Michigan's share of money that remained in the Settlement's Consumer Fund Balance after each Taxol claimant was paid the maximum amount.

            "We are deeply honored that the Attorney General has selected the Van Andel Institute as a recipient of these funds. We greatly appreciate his interest in our work and his generous support," said Van Andel Institute Chairman and CEO David Van Andel. "Over the past six years, our scientists have gained a reputation in the worldwide research community for meticulous and innovative studies into the genetic and molecular origins of cancer. These dollars will help advance our efforts to battle this disease and improve human health."  

            Cox added, "The Van Andel Institute is one of the world's pre-eminent biomedical research facilities.  The State of Michigan is fortunate to host such an institution, and I feel privileged to offer this gesture of support to assist in their mission."

            The Van Andel Institute's goal is to have a worldwide impact on cancer research and education.  Van Andel Institute serves as the supporting organization for Van Andel Research Institute and Van Andel Education Institute.  The Van Andel Research Institute conducts biomedical research, with a focus on cancer and Parkinson disease and with an emphasis on translating scientific research results into clinical applications.  The Van Andel Education Institute is the administrative center for the VAI Graduate School, K-12 science education, and programs that provide educational opportunities for college students in research laboratories.

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