What is one of the key functions of the Food and Drug Administration (FDA)?

One of the key functions of the Food and Drug Administration (FDA) is to approve or deny new drug applications. This process involves rigorous evaluation of the safety and efficacy of new medications before they can be marketed to the public. The FDA reviews clinical trial data and other information provided by drug manufacturers to ensure that new drugs meet specific standards for effectiveness and safety. This regulatory oversight is crucial for protecting public health, as it ensures that only those drugs that have been thoroughly tested and found safe for use are made available to consumers.

The other options, while related to drug safety and regulation, do not encompass the primary focus of the FDA's responsibilities like the approval of new drug applications does. For example, conducting inspections of pharmacies is often handled by state boards of pharmacy rather than the FDA directly, managing counterfeit drugs involves broader enforcement efforts often in collaboration with other agencies, and while the FDA does have a role in enforcing drug laws, its primary responsibility is centered around ensuring drug efficacy and safety through the application approval process.