From the manufacturer's website:
Campho-Phenique® Cold Sore Treatment provides maximum strength medicine to dry out the cold sore without causing cracking. It actually soothes and moisturizes as it works, reducing the appearance of the infection. The easy-to-use pin-point tip delivers immediate pain relief and begins working on contact, minimizing discomfort and itching, while preventing infection to promote healing.
*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.