He was elected a member of the Royal Swedish Academy of Sciences in 1965, and its President in 1983. In 1965, he was also elected a member of the Royal Swedish Academy of Engineering Sciences. He was elected a Foreign Honorary Member of the American Academy of Arts and Sciences in 1966. In 1985 he was appointed member of the Pontifical Academy of Sciences.
In 1975, he was awarded the Louisa Gross Horwitz Prize from Columbia University together with Bengt I. Samuelsson. He shared the Nobel Prize in Physiology or Medicine with Bengt I. Samuelsson and John R. Vane in 1982, for discoveries concerning prostaglandins and related substances.