This document discusses the drug discovery process from target identification through FDA approval. It describes methods used for target identification such as genomics, bioinformatics, and proteomics. The stages of lead identification through high-throughput screening and structure-based drug design are outlined. Key aspects of lead optimization like characterizing potency, efficacy, pharmacokinetics, and toxicity are summarized. Details are provided on preclinical and clinical trial phases from Phase 0 through Phase IV post-marketing surveillance. Factors contributing to the declining drug approval rate like increased safety demands are noted. The high costs and failure rates associated with drug development are highlighted.