On January 20, 2015, US President Obama announced at his 2015 State of the Union Address that he was launching a new precision medicine initiative [1]. On January 30, the Obama administration unveiled details about the Precision Medicine Initiative. Launched with a $215 million investment in the US President’s 2016 budget, the Precision Medicine Initiative will pioneer a new model of patientpowered research that ultimately help deliver the right treatment to the right patient at the right time [2]. On March 11, 2015, it had been reported that China is planning to invest 60 billion Yuan (nearly $10 billion) in precision medicine (20 billion from the Central Government and the remaining 40 billion from local governments and companies) before 2030 [3].

So, what is precision medicine? How is it related to other terms such as personalized medicine and omics (especially Pharmacogenomics and Pharmacoproteomics)? In this article, I elaborate the concepts and their relationships.