Advances in biosensing technology have led to the increasing application of these devices in drug discovery, high-throughput screening, target identification, and drug analysis. This chapter reviews recent developments in the design, fabrication, and applications of biosensing technology with optical, electrochemical, thermometric, piezoelectric, magnetic, and micromechanical detection in the pharmaceutical industry. Examples of practical biosensors for measuring neurotransmitters, antibiotics, disease biomarkers, and physiological components are provided, as well as recent trends with multiplexed detection, high-throughput screening, and drug discovery applications.