The Covid-19 pandemic is highly contagious and has spread rapidly across the 
globe. To date there have been no specific treatment options available for this 
life-threatening disease. During this medical emergency, target-based drug 
repositioning/repurposing with a continuous monitoring and recording of results 
is an effective method for the treatment and drug discovery. This review 
summarizes the recent findings on COVID-19, its genomic organization, molecular 
evolution through phylogenetic analysis and has recapitulated the drug targets 
by analyzing the viral molecular machinery as drug targets and repurposing of 
most frequently used drugs worldwide and their therapeutic applications in 
COVID-19. Data from solidarity trials have shown that the treatment with 
Chloroquine, hydroxychloroquine and lopinavir-ritonavir had no effect in 
reducing the mortality rate and also had adverse side effects. Remdesivir, 
Favipiravir and Ribavirin might be a safer therapeutic option for COVID-19. 
Recent clinical trial has revealed that dexamethasone and convalescent plasma 
treatment can reduce mortality in patients with severe forms of COVID-19.