The document discusses the Biopharmaceutical Classification System (BCS), established in 1995, which categorizes drug substances based on solubility, permeability, and dissolution rate to predict in vivo pharmacokinetics. It outlines four classes of drugs based on these criteria, each with specific characteristics, applications, and examples. Additionally, it covers the concept of biowaivers, permitting exemptions from human bioequivalence studies under certain conditions.