In recognition of this work , he , Francis Crick and James Watson were awarded the 1962 Nobel Prize in Physiology or Medicine , `` for their discoveries concerning the molecular structure of nucleic acids and its significance for information transfer in living material '' . In recognition of this work , he , Francis Crick and James Watson were awarded the 1962 Nobel Prize for Physiology or Medicine , `` for their discoveries concerning the molecular structure of nucleic acids and its significance for information transfer in living material . ''