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Both diseases are caused by parasitic worms, which infect vast numbers of people in Asia and Africa.

Inc., of ivermectin, which is taken by 300 million people annually for treatment of the roundworm parasite that causes the two diseases.

Tu shared the prize with the Irish-born William Campbell and Japan’s Satoshi Omura for her discoveries in finding new ways to treat malaria, the Nobel Assembly at Sweden’s Karolinska Institute announced Monday.

This year’s Nobel Laureates have developed therapies that have revolutionized the treatment of a few of the most devastating parasitic diseases.

A Massachusetts man has been awarded one of the most coveted honors in the world: a Nobel Prize. Among the winners: William C. Campbell of Drew University in Madison N.J., for his work on the roundworm parasite. Tu is the first Chinese medicine laureate and the 12th female...