In this review, we aim at establishing a relationship between the fundamentals of the microfluidics technologies used in the Pharmacy field, and the achievements accomplished by those technologies. We describe the main methods for manufacturing micrometer drops, bubbles, and capsules, as well as the corresponding underlying physical mechanisms. In this regard, the review is intended to show non-specialist readers the dynamical processes which determine the success of microfluidics techniques. Flow focusing (FF) is a droplet-based method widely used to produce different types of fluid entities on a continuous basis by applying an extensional co-flow. We take this technique as an example to illustrate how microfluidics technologies for drug delivery are progressing from a deep understanding of the physics of fluids involved. Specifically, we describe the limitations of FF, and review novel methods which enhance its stability and robustness. In the last part of this paper, we review some of the accomplishments of microfluidics when it comes to drug manufacturing and delivery. Special attention is paid to the production of the microencapsulated form because this fluidic structure gathers the main functionalities sought for in Pharmacy. We also show how FF has been adapted to satisfy an ample variety of pharmaceutical requirements to date.