: Global health and economy have been severely impacted by the COVID-19 pandemic that was brought on by the SARS-CoV-2 coronavirus. This makes the creation of potent medications for the treatment of COVID-19 disease a top goal. In clinical trials, several medications that have been repurposed for the treatment of COVID-19 have shown promise. Nevertheless, there are a lot of obstacles to overcome in the creation of COVID-19 pharmacological therapy. The inability to pinpoint prospective treatment targets is one difficulty caused by the unclear etiology of COVID-19. Another difficulty is the virus' quick evolution, which can result in the creation of drug-resistant variants. Furthermore, the quick start of clinical trials has been prompted by the strong demand for effective therapies. A lack of reliable data on the safety and efficacy of medications can result from the early start of clinical trials that have been prompted by the strong demand for effective medicines. Despite these obstacles, the development of various promising pharmacological treatments for COVID-19 has advanced. These include immune-modulating medications, like dexamethasone and tocilizumab, as well as antiviral medicines, like remdesivir and favipiravir. Combination therapies using several medications may also be useful in enhancing outcomes for COVID-19 patients. Despite some encouraging advancements, there are still a lot of obstacles to be addressed in the development of pharmacological therapy for COVID-19. Further research is needed to identify the most effective treatment approaches for this disease.