- an alchemical preparation supposed to be capable of prolonging life indefinitely (elixir of life) or of transmuting base metals into gold
- anything that purports to be a sovereign remedy; panacea
- an underlying principle; quintessence
- a liquid containing a medicinal drug with syrup, glycerine, or alcohol added to mask its unpleasant taste
WordReference Random House Learner's Dictionary of American English © 2014
- an imaginary preparation believed to be capable of prolonging life, or of changing ordinary metal into gold.
- something that can cure all ills.