Drug discovery is a highly intricate, tedious and potentially rewarding approach associated with huge risk. Pharmaceutical companies literally spend millions of dollars to produce a single successful drug. The drug discovery process also needs firm compliance to directions on manufacturing and testing the drug standards before it comes into the market. All these considerations increase the demand to develop advanced approaches in drug discovery. The contributions of advanced technologies including high resolution analytical instruments, 3-D biological printing, next-generation sequencing and bioinformatics have made positive impact on drug discovery & development. Fortunately, all these advanced technologies are evolving at the right time when new issues in drug development process are rising. In the present review, we have discussed the role of genomics and advanced analytical techniques in drug discovery. Further we have also discussed the significant advances in drug discovery as case studies.