panacea vs remedy

panacea and remedy both are nouns.

Word	Noun	Adjective	Verb	Adverb
panacea	Yes	No	No	No
remedy	Yes	No	Yes	No

As nouns, remedy is a hypernym of panacea; that is, remedy is a word with a broader meaning than panacea:

panacea: hypothetical remedy for all ills or diseases; once sought by the alchemists
remedy: a medicine or therapy that cures disease or relieve pain

Other hypernyms of panacea include curative, cure, therapeutic.

panacea (noun)	remedy (noun)
hypothetical remedy for all ills or diseases; once sought by the alchemists	act of correcting an error or a fault or an evil
	a medicine or therapy that cures disease or relieve pain

panacea (verb)	remedy (verb)
	provide relief for
	set straight or right