Final answer:
The Food and Drug Administration (FDA) is the officially recognized authority in the United States for regulating the prescription of medications. While it serves to protect the public by ensuring the safety and efficacy of drugs, the strict approval process can also result in delays that adversely affect patients needing new treatments and pharmaceutical companies invested in drug development.
Step-by-step explanation:
The officially recognized authority and standard on the prescription of drugs, chemicals, and medicinal preparations in the United States is the Food and Drug Administration (FDA). The FDA, as a federal agency of the United States Department of Health and Human Services, oversees the regulation and supervision of a variety of products to ensure their safety and efficacy. This includes the regulation of prescriptions and over-the-counter medications, a process that can require extensive testing before a drug can be sold in the market.
While the FDA's role protects the public from potential harm due to unsafe drugs, it is important to also consider that there are losers in this system. These often include individuals urgently needing new therapies that endure lengthy delays due to the rigorous approval process, and the pharmaceutical companies which incur high costs and risks associated with lengthy drug development and approval periods.
The FDA's regulatory programs differ by product type, with prescription drugs facing the most comprehensive requirements, including aspects such as testing, labeling, and marketing. The Center for Drug Evaluation and Research (CDER) plays a key role in ensuring that new drugs, which undergo a stringent approval process called a New Drug Application (NDA), reach the market only if they are deemed safe and effective when used as directed by the FDA.