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@Curses - you are correct that 'Distributed by' means that the company didn't actually make the product. They either hired someone else to make their formula or just bought someone else's standard formula (probably customized for the specific project).
'Manufactured by' means that the company owns the production plant that actually made the product.
Of course, there are no specific rules except that you have to label your product as either having been 'Manufactured by' or 'Distributed by'. If someone wanted to put 'manufactured by' but they didn't actually make it, they could still probably do it.
And for more fun about cosmetic labeling in the US, you can see a summary of the federal regulations here.
http://www.fda.gov/Cosmetics/CosmeticLabelingLabelClaims/default.htm
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