Yes, CONCOCTION is a Scrabble word!

Letter values in Scrabble US: C 3, O 1, N 1, C 3, O 1, C 3, T 1, I 1, O 1, N 1.

Is it a valid word?

CONCOCTION is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

any foodstuff made by combining different ingredients
an occurrence of an unusual mixture
the invention of a scheme or story to suit some purpose
the act of creating something (a medicine or drink or soup etc.) by compounding or mixing a variety of components