Dad swallowing an excellent remedy for ills (7)

I believe the answer is:

panacea

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'remedy for ills' is the definition.
(a panacea cures all diseases)

I don't understand the rest of the clue.

(Other definitions for panacea that I've seen before include "fixes all complaints" , "Nostrum" , "A cure-all for diseases or troubles" , "Solution to all difficulties" , "that will cure anything" .)

I've seen this clue in The Times.

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