I would imagine that's smartly packaged icthammol, isn't it? In which case, yes. Very old school 'million uses' but an old standby to draw and pack hoof abscesses. I would say I'm 'pro' as have had good luck with it in the past but then I am quite old.
The other this you can try is a paste made of magnesium sulphate (epsom salts) you can make your own or buy small jars of it from the chemist. In humans it's used for drawing abscesses.