A bill to amend the Federal Food, Drug, and Cosmetic Act to authorize the Secretary of Health, Education, and Welfare to impose conditions and limitations on the distribution of certain drugs.

Amends the Federal Food, Drug, and Cosmetic Act to authorize the Secretary of Health, Education, and Welfare to impose conditions and limitations on the distribution or prescription of any drug to assure that it is used safely and effectively and that adequate information regarding the effects of such use is furnished to the practitioner licensed to administer such drug.

Permits immediate suspension of the marketing of any such drug upon a finding of noncompliance with any such condition or limitation.

Requires the labeling of certain new drugs and antibiotics to indicate that their approval is for limited marketing only and that use may involve hazards that have not yet been discovered.