Boswellia, also known as Indian frankincense, is an herbal extract taken from the Boswellia serrata tree. Because boswellia is an effective anti-inflammatory, it can be an effective painkiller and may prevent the loss of cartilage. Some studies have found that it may even be useful in treating certain cancers, such as leukemia and breast cancer. Boswellia may reduce inflammation and may be useful in treating the following conditions: osteoarthritis (OA) rheumatoid arthritis (RA) asthma inflammatory bowel disease (IBD).