These are the dark domain of Charles Minto. Nothing can save you from them.
This is the closed from solution to the 2-compartment model.
$$X = dose \times \left(A e^{-\alpha t} + B e^{-\beta t} \right)$$
What are A and B, alpha and beta? Horrible combinations of the various ks in the model.
Distribution phase:
Rapid loss of solute from central compartment into peripheral compartment
Elimination phase:
Slow elimination of solute from central compartment
Falling central concentration drives redistribution from peripheral compartment
"Time taken for a drug to fall to half it's initial plasma level after stopping an infusion."
Depends on:
Volume of distribution at steady state. Equal to the sum of all the volumes of all the compartments!