Americans Robert H. Grubbs and Richard R. Schrock and France's Yves Chauvin have won this year's Nobel Prize in Chemistry.

The award was announced Wednesday, morning at the Royal Swedish Academy of Sciences in Stockholm. The trio was cited for their work that led the way in the manufacturing of better drugs and environmentally-friendly plastics.

Mr. Chauvin began work in 1971 in the field of metathesis, which studies how molecules are broken down and then rearranged. Mr. Schrock and Mr. Grubbs later developed more efficient and stable catalysts to reproduce the reaction.

All three men will share the $1.3 million cash award, which they will receive during a formal ceremony on December 10.

Some information for this report provided by AP, AFP and Reuters.