This document discusses the rise of personalized medicines and their impact on drug development. It notes that nearly 1 in 4 new drugs approved in recent years were precision medicines, and the proportion of personalized medicines in clinical development is expected to increase to 70% over the next five years. The use of genomics is also increasing in clinical trials, with over half of phase 1 trials and nearly two-thirds of phase 2 trials including some aspect of genomic medicine. The role of biomarkers, pharmacogenomics, and other approaches are enabling more targeted patient selection and dosing in clinical development. While promising, precision medicines also present challenges including complex trial designs, regulatory hurdles, data management needs, and the integration of multiple types of genomic and clinical