Moderate cold? Drug will get rid of that! (7)
I believe the answer is:
mediate
'moderate' is the definition.
(I've seen this before)
I don't understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for mediate that I've seen before include "try to resolve dispute" , "Act as middle man" , "To referee" , "moderate" , "Conciliate" .)