Final answer:
Pharmacokinetics involves the study of how a drug is absorbed, distributed, metabolized, and excreted from the body, and is a true statement regarding its role in the field of pharmacology.
Step-by-step explanation:
True, pharmacokinetics is the branch of pharmacology concerned with the absorption, distribution, biotransformation (metabolism), and excretion of drugs. This field of study plays a crucial role in drug discovery and development processes. Understanding the pharmacokinetic properties such as bioavailability, half-life, and drug-drug interactions, is essential in the early stages of development to improve the chances of clinical success and to ensure safety and efficacy. Pharmacokinetics helps in predicting the behavior of drugs in the body and influences decision-making from initial drug design to post-market surveillance.