Final answer:
The FDA regulates over-the-counter and prescription drugs, ensuring their safety and efficacy through strict guidelines. It collaborates with various agencies to enforce regulations and maintain public health. The FDA's powers stem from several federal laws, primarily the Food, Drug, and Cosmetic Act.
Step-by-step explanation:
The agency that regulates over-the-counter and prescription drugs is the Food and Drug Administration (FDA). The FDA is a federal agency under the United States Department of Health and Human Services which carries out its mission to protect and promote public health by ensuring the safety, efficacy, and security of human and veterinary drugs, biological products, and medical devices; and by ensuring the safety of the nation's food supply, cosmetics, and products that emit radiation. Prescription drug advertising and promotion are under the meticulous supervision of the FDA's Office of Prescription Drug Promotion, and over-the-counter drugs are regulated by both the FDA and the Federal Trade Commission (FTC) concerning advertising.
The FDA works in collaboration with other federal and state agencies to provide regulatory inspections and enforcement actions and is the primary agency involved in regulating pharmaceuticals. The legal framework for the FDA's regulatory powers includes numerous federal laws such as the Food, Drug, and Cosmetic Act, the Public Health Service Act, and parts of the Controlled Substances Act.