Native to India and tropical Africa (Palaeotropical region), where it is known as maigoya in Kikuyu, it is a voracious-growing perennial plant. The genus takes its name from the Greek plectron, spurge, and anthos, flower, alluding to its flowers. The specific epithet barbatus, 'bearded', alludes to its hairy leaves. It is sometimes confused with the "Chilean boldo" (Peumus boldus), a tree of very different habit, but with similar medicinal properties.

An ornamental plant in tropical and subtropical regions due to its voracious growth and showy flowering, it is more frequently cultivated for medicinal use. Often known as Coleus forskohli, boldo is a traditional medicinal plant in Ayurvedic medicine (India), although mismanaged it is a toxic plant (in many countries, including Spain, it is a regulated plant). It is being studied for the cardiotonic properties of some of its chemical components and for its action on the metabolism of sugars and fats.