Final answer:
The Food and Drug Administration (FDA) grants approval for products to be sold on the market and monitors their safety post-release, including conducting Phase IV clinical trials and risk management for pharmaceuticals, while intervening in cosmetics safety as necessary.
Step-by-step explanation:
Who provides approval to be on the market and monitors safety after release? This essential role is played largely by the Food and Drug Administration (FDA), which regulates the medicines that pharmacies can sell in the United States. To guarantee the safety and efficacy of drugs, the FDA demands rigorous testing, which can span several years, to ensure they meet the necessary standards before they can enter the market. After a drug is marketed, it must be continually monitored for safety through a pharmacovigilance system. Companies may be required to conduct post-marketing surveillance, including Phase IV clinical trials or undertake other risk management activities to monitor the drug's long-term safety and its effects on various patient subgroups.
While the cosmetic industry largely ensures its product safety, the FDA intervenes when necessary to protect the public, often mandating warning labels on products that haven't been tested. Unlike pharmaceuticals, cosmetics do not generally require pre-market approval.
In summary, the FDA is responsible for both giving approval to drugs and other products to be marketed and for their ongoing post-market safety monitoring, protecting the public from potential risks associated with these products.