Recent advances in biomedical research, genomics and bioinformatics have given the pharmaceutical and biotechnology industries new promises and expectations: providing effective cures for complex diseases, discovering and prioritizing drug targets more efficiently, eliminating toxic and ineffective compounds earlier and delivering the right drug therapy to the appropriate patients. Ultimately, the biomedical information generated today must be transformed into integrated predictive models that can be consulted for decision-making in drug discovery, efficacy and toxicity screening and individualized therapy. Here we describe how models that capture different aspects of network dynamics can be generated and applied in disease pathway identification, drug screening, diagnostics and individualized therapy.