FDA approval is related to drugs only. The separation of drugs vs dietary supplements is based on claims by the manufacturer related to efficacy, but not actual efficacy. I.e., a dietary supplement can be just as effective as a drug, but hasn't gone through FDA trials necessary to make drug-type claims.
Cheers is in the category of dietary supplements, just like Emergen-C, Airborne, Dramamine® Non-Drowsy, and other products. In this category, the FDA will make sure the product is safe and manufactured in a safe way, but will not comment on efficacy, that's up for the consumer to decide. So technically, "no", but it's not really a black-and-white issue like most people think.
All of our products are manufactured in an FDA regulated facility and made in the USA. We vet dozens of manufacturers, run QC checks at third party labs, etc to ensure our product is the best quality. As due diligence requested by a major institutional investor we had in our last fundraising round, we even spent a ton of money in getting expert toxicology reports on Cheers' safety. We take great pride in making the most safe and effective products possible. Things that technically classify as dietary supplements cannot get FDA approval because they do not have claims. Rather, their production must be overseen by the FDA.