Abstract
Advertising is the major source of consumer information regarding available products and services. Truthful ads assist consumers' search for products and services they want, stimulate competition, and create incentives for development and improvement of products and services. Under a Memorandum of Understanding between the FDA and FTC, the FDA regulates prescription drug advertising and the FTC regulates OTC drug advertising. The FDA regulates prescription drugs under a detailed set of regulations, while the FTC regulates OTC advertising by several policy guidelines and numerous adjudicated cases. The major objectives of FTC regulation are to encourage truthful advertising and ensure that advertisers disclose health risks and other limitations to avoid deceiving consumers.
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