The document discusses the Biopharmaceutical Classification System (BCS), which classifies drug substances based on their aqueous solubility and intestinal permeability. The BCS has four classes based on whether a drug is highly soluble/permeable or low soluble/permeable. It provides a framework to determine if in vitro dissolution tests can replace bioequivalence studies for certain drugs. The BCS considers factors like dose/solubility ratios, dissolution rates, and permeability to classify drugs and determine regulatory applications like biowaivers for bioequivalence studies.