Balsam of Peru is also called Myroxylon balsamum and Indian balsam. It comes from the extracts of balsam tree. Balsam of Peru is an antiseptic and is found in various products like lotions, shampoos and conditioners. It can heal wounds, skin diseases, leg ulcers etc. It can cure colds, coughs or bronchitis. Nevertheless, it can cause skin inflammation, irritation and other skin allergies. Large doses can damage the kidney. Internal use is more risky than outer use on the skin. Before using Balsam of Peru you should consult a doctor.