I am a care-giver and not a pharmacologist, but according to the Merck Manual (15th Ed.), the biologic half-life is a convenient parameter. It is the time required for the plasma drug concentration or the amount in the body to decrease to 50%. For most drugs, the half-life remains constant regardless of how much drug is in the body. It is related to the elimination rate constant by: Half-life = 0.693/Elimination rate constant but the elimination rate constant is a function of how a drug is cleared from the blood by the eliminating organs and how the drug distributes throughout the body. Pharmacology is a very complex science when it involves simple drugs, but when the rate constant is other than a simple first degree order, this becomes far more complex when dealing with such a drug as L-dopa that becomes efficacious only upon reaching the brain. This is a biological term and is usually finite. Then there is radioactive half-life which is the time it takes for a number of a nuclide atoms to decay to half the original number of atoms. This decay varies from seconds to thousands of years and is asymptotic.