Co-crystallization is an emerging approach for enhancing physicochemical properties like solubility, stability, bioavailability of poorly soluble drugs of BCS class II in pharmaceutical development without changing the chemical composition and considered better alternatives to optimize drug properties. Co-crystal is a crystalline entity consists of API and a stoichiometric amount of a pharmaceutically acceptable co-crystal former formed by intermolecular interactions like Hydrogen bonding, π-π stacking and Van der Waals forces. In this article, an overview of pharmaceutical cocrystals will be presented along with the intermolecular interactions (Chemistry of Co-crystals), methods of their preparations, characterization of co-crystals altered physicochemical properties. Furthermore, this article also gives a brief explanation about newer trends in co-crystals with application of co-crystals in medicines and industries.