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In Greek mythology, Panacea ("all-healing") was a daughter of Asclepius and Salus (or Epione). She was the personification of healing through herbs.
A panacea is a cure-all, either physical medication or a solution to a problem.
The Panacea Society is a basically harmless Christian cult based in Bedford, England who send out cure-alls and wish to promote the work of Joanne Southcott.