What does the government do with seized drugs?

On yahoo this morning a featured video was $352 million worth of cocaine found in a semi-submersible vessel. They then went on to say that the company that found that has seized $2.2 Billion in the past, now I know the government auctions off seized homes and cars and the like, but what do they do with these drugs? They obviously can’t sell them to people, are they used for medicinal research? Are they burned in places where people won’t inhale them?