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Deals damage. The user recovers half of the HP lost by the target, rounded up. If Big Root is held by the user, the HP recovered is 1.3x normal, rounded half down. If the target has the ability Liquid Ooze, no HP will be restored and the user will take damage equal to the amount it would otherwise have healed instead. Damage is boosted to 1.2x by the ability Iron Fist.
Drain Punch is a move that was reborn with the onset of the fifth generations. It was almost totally unused previously because it had a fairly low Base Power and PP. In this generation, it was boosted to 75 Base Power and 16 max PP, which alone gave the move a new breath of life and is now the reliable STAB move of choice on most Fighting-types, most of the time alongside Bulk Up. Obvious mentions go to Conkeldurr and Gallade, as both Pokemon have enough bulk to set up at least one boost and slowly recover their lost health with Drain Punch and Leftovers. The fact that both can use a priority move can also improve their survival by a great amount. Toxicroak is notable for receiving recovery in the rain with Dry Skin, allowing it to constantly set up Substitutes and further recover the lost health with Drain Punch.
Close Combat is a much more powerful alternative that lowers the user's Defense and Special Defense by 1 stage.
Superpower is a much more powerful alternative that lowers the user's Attack and Defense by 1 stage.
Hi Jump Kick is an even more powerful alternative that causes the user to lose 50% of its health when it misses.
Giga Drain is a special Grass-type equivalent.