The selection of the suitable drug form and development of optimal preclinical and clinical formulations are rather critical steps in early development of innovative drugs. The selection strategies based on Biopharmaceutics Classification System (BCS) have recently been adopted worldwide in drug development. The objective of these new development strategies is to shorten the development cycle and streamline preclinical and clinical studies without delay due to drug form and formulation issues. These BCS based form and formulation selection strategies have regulatory significance as well. The goal of this review is to describe a BCS based solid form and formulation development strategies that can minimize the required resources and rapidly deliver a functional formulation for early stage preclinical and clinical testing.