Over the last two decades, the design of multicomponent molecular crystals or cocrystals has grown out to be an interesting and promising area of research in pharmaceuticals and material science. Cocrystallization is at the interface of crystal engineering and supramolecular chemistry and allows us to vary the physicochemical properties of solids according to the need, through manipulation of various intermolecular interactions. In this short review, we focus on some recent reports on pharmaceutical cocrystals and emerging subclasses of cocrystals, namely: Charge transfer cocrystals, Energetic cocrystals, and Ternary cocrystals and discuss about their methods of characterization and applications of importance in the industry.