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Simplified etymology
Elixir entered English through Arabic al-iksir from Greek xerion “powder for drying wounds,” ultimately related to Greek xeros “dry.” In medieval alchemy it denoted a sought-after preparation believed capable of turning ordinary metals into gold or indefinitely prolonging life.
Etymology
From Medieval Latin elixir, through Arabic al-iksir, 'the alchemical preparation,' from Greek xerion, a dry medicinal powder, based on xeros, 'dry.' In medieval alchemy it named a substance thought to transform metals; from that promise came the elixir of life and the later figurative sense of a universal remedy.