Final answer:
Pharmacokinetics involves the study of how a drug is absorbed, distributed, metabolized, and excreted within the body, and is essential in determining a drug's safety and efficacy in the drug discovery and development process.
Step-by-step explanation:
Pharmacokinetics encompasses the actions and disposition of a chemical, specifically a drug, within the body, which includes absorption, distribution, metabolism, and excretion (ADME). These processes are critical for determining the efficacy and safety of a drug throughout its lifecycle, from drug discovery to post-marketing surveillance. Drug candidates that exhibit problematic pharmacokinetic properties, such as low bioavailability or short half-life, are often screened out during preclinical studies to prevent later failures in clinical trials. The pharmacokinetic profile of a drug, including its maximum concentration (Cmax), time to reach Cmax (Tmax), and elimination half-life (t1/2), are comprehensively studied to assess potential drug-drug interactions and toxicities, thereby optimizing the chances of clinical success.