Caloropis procera is a multipurpose plant that is extensively used by traditional folk healers and local people for preparation of different drugs and ailments of choice to treat different diseases and disorders. Plant contains diverse phyto-chemicals which show various pharmaceutical and ethno-medicinal properties. Two related species are of Asclepiadaceae, Caloropis procera and Calotropis gigantea, and both possess enormous disease curing potential against various infectious agents such as bacteria, viruses, fungi, protozoans and worms; and are widely used for treatment of different diseases and physiological disorders. Active components of Calotropis procera displayed cytostatic, cytotoxic, wound healing, procogulant, analgesic, anticonvulsant, anti-arthritic, antidiabetic, hepatoprotective, anti-fertility, antipyretic, anti-coccidial, anticancer, antitumor and anti-inflammatory properties. Natural Calotropis latex in preserved and concentrated forms finds many pharmaceutical applications and may be more useful in interventional therapies, complementary and alternative medicine to cure different types of cancers. Latex can be used for preparation of various herbal drugs and drug templates which might be non-steroidal and show wider cancer suppressing efficacy in patients. Plant can become a future source of therapeutic drugs, pesticides and industrial products. It can be used for phyto-extraction of toxic chemicals and reclamation of polluted derelict lands.