The Neustadt International Prize for Literature has been given out biennially since 1970 and is sponsored by the University of Oklahoma and World Literature Today. Similarly to the Nobel Prize, it honors "outstanding achievement in poetry, fiction, or drama", and "it may serve to crown a lifetime’s achievement or to direct attention to an important body of work that is still developing." The prize has had so much overlap with the Nobel Prize that it has come to be known among lovers of world literature as the "American Nobel". As of 2020, 32 Laureates, Finalists, and Jurors have won the Nobel Prize including 1988 Finalist Peter Handke (Nobel 2019), 2012 Finalist Bob Dylan (Nobel 2016), and 1994 Finalist Svetlana Alexievich (Nobel 2015).