n. In alchemy, a soluble solid substance which was believed to have the property of transmuting baser metals into silver or gold and of prolonging life.n. In medicine, formerly, a tincture with more than one base; in modern pharmacy, an aromatic, sweetened, spirituous preparation containing small quantities of active medicinal substances.n. The inmost principle; absolute embodiment or exemplification.To give the character of an elixir to.