When used as a pharmaceutical preparation, it contains at least one active ingredient dissolved in a solution that contains 15 to 50% by volume of ethyl alcohol and it is designed to be taken orally.
Types of Elixirs:
1. Non-medicated elixirs:
It is used as a solvent or vehicle for the preparation of medicated elixirs: aromatic elixirs (USP), isoalcholic elixirs (NF) or compound benaldehyde elixirs (NF).
2. Medicated elixirs
- Antihistaminic elixirs: used against allergy: chlorampheniramine maleate elixirs (USP), diphenhydramine HCl elixirs.
 - Sedative and hypnotic elixirs: sedatives induce drowsiness and hypnotics induce sleep: pediatric chloral hydrate elixirs.
 - Expectorant: used to facilitate productive cough (cough with sputum): terpin hydrate elixirs.
 - Miscellaneous: acetaminophen (paracetamol) elixirs which are used as analgesic.
 
An elixir is a hydro-alcoholic solution of at least one active ingredient. The alcohol is mainly used to:
- Solubilize the active ingredient(s) and some excipients
 - Retard the crystallization of sugar
 - Preserve the finished product
 - Provide a certain sharpness to the taste
 - Aid in masking the unpleasant taste of the active ingredient(s)
 - Enhance the flavor.
 
An elixir may also contain the following excipients:
- Sugar and/or sugar substitutes like the sugar polyols glycerol and sorbitol.
 - Preservatives like parabens and bezoates and antioxidants like butylated hydroxytoluene (BHT) and sodium metabisulfite.
 - Buffering agents
 - Chelating agents like sodium ethylenediaminetetraacetic acid (EDTA)
 - Flavoring agents and flavor enhancers
 - Coloring agents
 
Elixirs should be stored in a tightly closed and light resistant container away from direct heat and sunlight.
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