A novel pharmaceutical composition is provided comprising beta-caryophyllene or a functionally equivalent derivative, analogue or pharmaceutically acceptable salt thereof in a base cream comprising triglycerides, phospholipid, water, wax, alcohol, with other minor constituents. The composition is useful to treat pain and/or inflammation, reduce fine lines and wrinkles, moisturize, and protect skin with anti-bacterial, anti-fungal and insect repelling properties.