Final answer:
The pharmacy assumes full responsibility for compounded drugs, ensuring custom formulations meet the specific needs prescribed by healthcare providers.
Step-by-step explanation:
The entity that assumes full responsibility for compounded drugs is the pharmacy. The pharmacist, a role also historically referred to as chemist, uses their extensive knowledge of science and chemistry to compound drugs when necessary. While pharmaceutical chemists mainly focus on developing new drugs and improving the safety and efficacy of existing ones, the compounding process itself falls under the pharmacy's purview. It is the pharmacy that ensures the custom formulation meets the specific needs of the client, aligning with the guidelines and the prescriptions provided by a veterinarian or a physician.