elixir

1. (alchemy) A liquid which converts lead to gold.Examples: "For Chinese alchemists, gold held the key to the Elixir, the Eastern equivalent of the Philosopher's Stone."

2. (alchemy) A substance or liquid which is believed to cure all ills and give eternal life.

3. (by extension) The alleged cure for all ailments; cure-all, panacea.Examples: "The silver-bullet cancer cures of yesterday’s newsmagazine covers, like interferon and angiogenesis inhibitors, disappointed the breathless expectations, as have elixirs such as antioxidants, Vioxx, and hormone replacement therapy."broadly

4. (pharmacy) A sweet flavored liquid (usually containing a small amount of alcohol) used in compounding medicines to be taken by mouth in order to mask an unpleasant taste.Examples: "The subcommittee's report to the Council on Pharmacy and Chemistry shows that the action of somnos is practically identical with that of a 5 per cent elixir of hydrated chloral."