Original: Together with E. C. Kendall and P. S. Hench, he was awarded the Nobel Prize in Physiology or Medicine in 1950 for their work on hormones of the adrenal cortex which culminated in the isolation of cortisone.
Simplified: Together with E. C. Kendall and P. S. Hench, he was awarded the Nobel Prize in Physiology or Medicine in 1950 for their discovery of cortisone.