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The Nobel Prize in Physiology or Medicine was shared by Henry Hallett Dale and Otto Loewi in 1936 for their discoveries relating to chemical transmission of nerve impulses. Their joint work established the chemical nature of neurotransmission, confirming Loewi's hypothesis of a chemical messenger released at the synapse, subsequently termed acetylcholine. Their findings revolutionized the understanding of neuronal communication and paved the way for further advancements in neurobiology and pharmacology.