Interestingly, despite its toxicity, the yew tree has been a source of important medicinal compounds. The most notable is paclitaxel (Taxol), which is derived from the bark of the Pacific yew tree. Paclitaxel is an effective anti-cancer drug used in the treatment of various cancers, including breast and ovarian cancer. The drug works by inhibiting cell division, thus slowing down the growth of cancer cells.