As of March, 2020, Corona Virus disease 2019 (COVID-19) has catapulted to the status of a pandemic. Its rapid spread has initiated a worldwide search for appropriate therapeutics targeting the causative SARS-CoV-2 virus. Till now, the management of critical COVID-19 patients mainly revolves around the supportive therapies of supplemental oxygen and ventilatory support. However, pharmacotherapy and immunotherapy specifically intended to halt SARS-CoV-2 from exerting its effects are increasingly being incorporated into treatment regimens. COVID-19 patient care continues to evolve as the available drugs are being thoroughly investigated for their potential antiviral effects and new therapies, such as vaccines, are being developed. The list of pre-existing therapeutics that show promise against SARS-CoV-2 includes anti-virals like Remdesivir, plasma therapy, traditional Chinese medicine (TCM), anticoagulants, antibiotics, corticosteroids and several other investigational agents such as vitamin supplements and thymosin alpha one. In this comprehensive, updated review we will highlight the major prospective therapies that are currently in the arsenal against COVID-19 and where they stand in the treatment recommendations as well as a brief look at the challenges faced in Pakistan. With this review we not only hope to disseminate the accurate, recent information regarding these therapies, but also discuss the reliability of the clinical trials that have designated them to be useful against COVID-19.