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The panacea (pronounced /pænəˈsiːə/), named after the Greek goddess of healing, Panacea, also known as panchrest, was supposed to be a remedy that would cure all diseases and prolong life indefinitely. It was sought by the alchemists as a connection to the elixir of life and the philosopher's stone, a mythical substance which would enable the transmutation of common metals into gold.

A panacea is also a literary term to represent any solution to solve all problems related to a particular issue.

Compare: patent medicine, snake oil

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