From the manufacturer's website:
Tough pain has got nothing on Icy Hot Extra Strength Pain Relieving Balm. This non-greasy pain relief balm helps temporarily relieve minor pains associated with arthritis pain, muscle pain, joint pain, and more. First, it's icy to dull the pain, then hot to relax it away. This powerful pain relief formula starts working in minutes and lasts for hours, so you can get back to being you... without the pain. At the gym, at home or on the job, rely on Icy Hot Extra Strength Pain Relieving Balm for lasting pain relief.
Warning: See attached picture.
*These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.