The year 2010 marked the first launch for a number of new drugs and biologics, including several important innovations and therapeutic advances. Twenty-nine new chemical entities and biologics for therapeutic use reached their first markets in 2010. Following a growing tendency in recent years, at least 20 important line extensions were also introduced last year. Both figures are significantly lower than those registered in 2009. Pharma and biotech companies also became leaner and more competitive in 2010 through two processes: prioritizing R&D and discontinuing less promising projects, and merging with or acquiring companies with complementary strengths and weaknesses. This review provides a brief overview of the highlights of 2010.