William Campbell of Drew University in New Jersey and Satoshi Omura of Japan shared the prize with Youyou Tu of China.
Campbell and Omura were awarded for their work in developing a medicine that dramatically cut the rates of river blindness and elephantiasis. Tu, inspired by the power of herbs, helped develop a powerfully effective treatment for malaria.
Some 3.4 billion people in 100 nations are at risk of the debilitating diseases.
Committee member Hans Forssberg said the trio's work "has promoted well-being and prosperity for both individuals and society."
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