Oxycodone is and why it is a highly sought after medication. Oxycodone is a prescription opioid used to treat moderate to severe pain. It works by binding to opioid receptors in the brain and spinal cord, blocking the transmission of pain signals. This makes it an effective choice for managing chronic pain, such as that caused by cancer or arthritis. However, Oxycodone also has a high potential for abuse and addiction, which has led to strict regulations surrounding its use and distribution.