Alkacel 2mg tablet contains the active constituent Melphalan. It is an anticancer agent that belongs to the class of medications called alkylating agents. It is used to treat multiple myeloma (a type of cancer of the bone marrow). It is also used to treat advanced breast and ovarian cancer. It is also indicated to treat polycythemia vera ( a disease that increases the number of red cells in your blood. This makes the blood thicken and causes blood clots). It works by reducing the number of abnormal cells your body makes.