How is ethanol used in medicine?

Ethanol is a good solvent hence it is used in medicines like Tincture iodine, cough syrups, and many tonics. Ethanol is commonly called Alcohol and is the active ingredient of all alcoholic drinks. Alcohol is good for people living in severe cold areas if taken in small quantities. But everybody know the ill effects of alcohol if taken in small quantities too and its even more lethal to take Absolute Ethanol(concentrated) which can cause serious health hazards!!!