Ephedrine Alkaloids Regulation Act of 2004 - Requires ephedrine alkaloids, including ephedrine and pseudoephedrine, to be listed in schedule V (drugs or other substances having a low potential for abuse, that have a currently accepted medical use in treatment in the United States, abuse of which may lead to limited physical or psychological dependence) of the Controlled Substances Act (CSA). Excepts pseudoephedrine when contained in a drug that is in liquid or gel form marketed or distributed lawfully in the United States under the Federal Food, Drug, and Cosmetic Act (which shall be considered a listed chemical).
Amends CSA to revise the definition of: (1) "regulated transaction" to provide that the threshold for any distributor sale of products containing pseudoephedrine products in liquid or gel form, or containing phenylpropanolamine products, shall be nine grams of pseudoephedrine or phenylpropanolamine in a single transaction and sold in package sizes of not more than three grams of pseudoephedrine or phenylpropanolamine base; and (2) "ordinary over-the-counter pseudoephedrine or phenylpropanolamine product" to mean certain products containing pseudoephedrine in liquid or gel form (currently, products containing pseudoephedrine) that meet specified requirements.