A gift to the baby Jesus and to us, Frankincense possesses amazing healing powers (arthritis, inflammatory diseases, anti-bacterial, anti-fungal, anti-cancer). From BioMed Central:
Frankincense resin is obtained from trees of the genus Boswellia (family Burseraceae). Incisions are made in the trunks of the trees to produce exuded gum, which appears as milk like resin. The resin hardens into orange-brown gum resin known as frankincense. There are numerous species and varieties of frankincense trees, including Boswellia serrata . . . Boswellia carteri in East Africa ..., each producing a slightly different type of resin. Differences in soil and climate create more diversity in the resins, even within the same species. The aroma from these resins is valued for its presumed healing properties and superior qualities for religious rituals since the time of the ancient Egyptians , and has been used in incense, fumigants, and as a fixative in perfumes.
Frankincense resin has been considered throughout the ages to have a wealth of health supporting properties. The resins of Boswellia carteri and Boswellia serrata have been used for the treatment of rheumatoid arthritis and other inflammatory diseases  such as Crohn's disease  in traditional medicine of many countries. The anti-inflammatory activity has been attribute to the resin's ability in regulating immune cytokines production  and leukocyte infiltration [5,6]. Boswellia serrata extract also exhibits anti-bacterial and anti-fungal activities . Additionally, extracts from Boswelliaspecies gum resins might possess anti-cancer activities, based on their anti-proliferative and pro-apoptotic activities in rat astrocytoma cell lines  and in human leukemia cell lines , as well as their anti-carcinogenic activity in chemically induced mouse skin cancer models . Clinically, extract from the resin reduces the peritumoral edema in glioblastoma patients  and reverses multiple brain metastases in a breast cancer patient . These results suggest that frankincense resin contains active ingredients that modulate important biological activities.
Quoted From: http://bmccomplementalternmed.biomedcentral.com/articles/10.1186/1472-6882-9-6