Final answer:
The official name a pharmaceutical company gives to a drug it has developed is referred to as the brand name or trade name. This name is trademarked and distinct from the generic name of the drug. The FDA regulates the marketing and safety of these drugs through the NDA process.
Step-by-step explanation:
The official name given to a drug by the pharmaceutical company that developed it is referred to as the drug's brand name or trade name. This name is distinct from the drug's generic name, which is the standard reference for the drug's active ingredient without any branding. Pharmaceutical companies invest significantly in the development and marketing of their branded drugs, aiming to establish a strong presence in the market. This brand name is protected by patents for a certain period of time, after which generic versions of the drug can be produced and sold by other companies.
The Food and Drug Administration (FDA) plays a critical role in the regulation of pharmaceuticals. Before a new drug can be marketed and sold, it must undergo rigorous testing and pass through the New Drug Application (NDA) process to ensure its safety and efficacy. Post-approval, the drug’s branding, including its trade name, is also regulated to ensure that advertisements and promotions are truthful and that a "fair balance" is maintained between the drug's benefits and risks.