Stockholm [Sweden], October 7 : The 2024 Nobel Prize for Physiology or Medicine is set to be announced later on Monday kicking off a week that rewards outstanding efforts in science, economics, literature and towards peace.
The awards to be announced from October 7- 14 come with a prize amount of 11 million Swedish crowns (USD 1.1 million). A Nobel Prize can be awarded to up to three laureates who share the prize sum.
Swedish inventor, engineer, scientist, and philanthropist Alfred Nobel created the Nobel Prize. In his last will and testament, he specifically designated the institutions responsible for the prizes he wished to be established.
While the Royal Swedish Academy of Sciences hands out the Nobel Prize in Physics and Chemistry, the Karolinska Institutet awards the Nobel Prize in Physiology or Medicine and the Swedish Academy awards the Nobel Prize in Literature.
A Committee of five persons elected by the Norwegian Parliament (Storting) decides on the Nobel Peace Prize winner.
The first Nobel Prizes were awarded in 1901 but the Nobel in Economics known as the Sveriges Riksbank Prize in Economic Sciences was first awarded in 1969.
Since 1901, the Nobel Prizes have been presented during the Nobel Week which culminates in the Nobel Prize ceremony at the Stockholm Concert Hall in Sweden and the Oslo City Hall in Norway on December 10, which marks the anniversary of Alfred Nobel's death.
While the Nobel Prizes in physics, chemistry, physiology or medicine and literature are awarded in Stockholm, Sweden, while the Nobel Peace Prize is awarded in Oslo, Norway.
Between 1901 and 2023, the Nobel Prizes and the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel were awarded 621 times to 1000 people and organisations.
According to the statutes of the Nobel Foundation, each laureate shall be presented with a gold medal. The front of the Nobel Prize medals depict Alfred Nobel. The image on the reverse varies according to the institution awarding the prize.
Each Nobel Prize diploma is a unique work of art where the design is decided by the prize-awarding bodies. The literature diploma is written on parchment, ie specially treated leather, using largely the same technique as those of medieval book illustrators. The diplomas given to the other laureates are produced on specially ordered handmade paper.
In Stockholm the week's highlight is the Nobel Prize award ceremony and banquet where laureates receive their diplomas and medals.
At the banquet where Nobel Prize laureates are guests of honour and sit with the Swedish royal family. Every year, the banquet differs in both decor and menus.
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The medicine prize has been awarded 114 times to a total of 227 laureates. Only 13 women have won been awarded the prize.
Alfred Nobel had a great interest in medical research and in the early 1890s, he invited the Swedish physiologist Jons Johansson to his laboratory in France. They had become acquainted with each other at Karolinska Institutet where they did medical research.
Physiology or Medicine was the third prize category that Nobel mentioned in his will.
Since 1901, the medicine laureates have been selected by the Nobel Assembly at Karolinska Institutet
Nobel announcements continue with the physics prize on Tuesday, chemistry on Wednesday and literature on Thursday. The Nobel Peace Prize will be announced Friday and the economics award on Oct. 14.