Discovering new drugs is time-consuming and expensive and involves many different tools from various domains. Numerous omic technologies, such as genomics, transcriptomics, proteomics, and metabolomics, have been created to speed up the process. Leveraging genetic and genomic insights, these methodologies play a pivotal role. Genetic insights aid in target identification, prioritization, and the prediction of drug outcomes. Gene expression data informs drug discovery, while proteomics uncovers targets and facilitates high-throughput profiling. Enhancing drug efficacy necessitates mechanistic insights into downstream effects, enabling side effects and resistance prediction. Early-stage drug discovery now extensively employs diverse metabolomics platforms. This review underscores the recent strides of omic technologies in drug discovery, affirming their role in enhancing drug viability and regulatory approval. The emphasis lies on the latest advancements in genomics, transcriptomics, proteomics, and metabolomics, collectively fortifying drug development.