While early co-development successes have demonstrated the potential for a genomic-based approach to drug discovery and development, certain questions remain, including the processes for partnering, the economic viability of co-development for diagnostics, payer reimbursement for companion tests and off-label use of these drugs, the substitution of non-FDA approved tests, the challenges in changing technologies for an existing companion diagnostic, the need for multiple tests for ever smaller diagnostic tissue specimens, and many others. The Roundtable on Translating Genomic-Based Research for Health hosted a workshop to examine the challenges of and potential solutions for co-development of molecular tests and targeted therapeutics.