Aveeno makes several medicated chapped lip treatments, both of which I highly recommend. For medicated moisture in a balm, Aveeno Lip Protectant, Intense Relief Medicated Therapy Balm is enhanced with oatmeal to soothe and jojoba oil and shea butter to moisturize. It is medicated with Menthol and contains petrolatum as a protectant. The same product is also available in a pot: Aveeno Lip Protectant, Intense Relief Medicated Therapy Pot (pictured).
I really like the addition of shea butter in the Aveeno lip treatment products. It makes the balm more moisturizing than a number of other medicated lip balms and it stays on the lips longer. Thus, I don’t feel the need to reapply the Aveeno products as often.
To avoid chapped lips in the first place, also check out Aveeno Lip Conditioner, Essential Moisture SPF 15. This is a nice, non-medicated, SPF lip balm for everyday use.