Used attributively before another noun to denote something intended as a universal cure or solution.
Translations
The committee presented a panacea plan that promised to fix the economy overnight.
Le comité a présenté un plan miracle qui promettait de régler l'économie du jour au lendemain.
Attributive: intended to act as a universal cure or solution to all problems or difficulties. The committee presented a panacea plan that promised to fix the economy overnight.