Drug repositioning is the application of already approved drugs and compounds to treat a different disease. New drug discovery is a very time consuming and cost effective so alternative approach is old drug repositioning for new indications. Drug repositioning is also known as recycling, repurposing and re-tasking. Drug repurposing is an approach to finding new uses for older drugs and has been gaining popularity in recent years. The role of traditional medicinal chemistry in the context of these efforts is considered. Every practicing medicinal chemist labors under an assumption that is almost never stated out loud, not all potentially useful drugs for human use have yet been found. It certainly seems like a reasonable viewpoint, given the number of medical conditions either for which there is no pharmacotherapy available or for which existing treatments leave much to be desired. However, another way of addressing this need has gained steam in recent years. “Drug repurposing” is the practice of looking for new clinical uses of existing drugs, which contrasts sharply from de novo drug discovery approaches to therapeutics. The purpose of this essay will be to consider this approach, contrast it to traditional medicinal chemistry, and consider how the two approaches could positively complement each other.