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nostrum

[nos-truh m] /ˈnɒs trəm/
noun
1.
a medicine sold with false or exaggerated claims and with no demonstrable value; quack medicine.
2.
a scheme, theory, device, etc., especially one to remedy social or political ills; panacea.
3.
a medicine made by the person who recommends it.
4.
a patent medicine.
Origin of nostrum
1595-1605
1595-1605; < Latin nostrum our, ours (neuter singular of noster); referring to the seller's calling the drug “our” drug
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Based on the Random House Dictionary, © Random House, Inc. 2016.
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British Dictionary definitions for nostrums

nostrum

/ˈnɒstrəm/
noun
1.
a patent or quack medicine
2.
a favourite remedy, as for political or social problems
Word Origin
C17: from Latin: our own (make), from noster our
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Origin and History for nostrums

nostrum

n.

"quack medicine," c.1600, from Latin nostrum remedium "our remedy," presumably that prepared by the person offering it, from Latin nostrum, neuter of noster "our," from nos "we," from PIE *nos (see us).

Online Etymology Dictionary, © 2010 Douglas Harper
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nostrums in Medicine

nostrum nos·trum (nŏs'trəm)
n.
A medicine whose effectiveness is unproved and whose ingredients are usually secret; a quack remedy.

The American Heritage® Stedman's Medical Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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