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Beat the bug
Most of the time, a cold or the flu will resolve on its own, with time.
There are prescription drugs—Tamiflu and Relenza—that can treat the flu if given within two days of getting sick. (These are recommended for those at high risk of flu complications, such as infants, the elderly, and people with weak immune systems, among others, and most otherwise-healthy people don't need them.)
You can treat cold and flu symptoms using over-the-counter medications; try to address single symptoms instead of using a multipurpose med.
An expectorant like guaifenesin (Mucinex)
Aches, headache, and/or fever
A pain reliever like ibuprofen (Advil) or acetaminophen (Tylenol)
A cough suppressant like dextromethorphan (Robitussin Cough + Chest Congestion DM)
Sneezing or runny nose
An antihistamine like chlorpheniramine (Chlor-Trimeton)