Multicomponent reactions (MCRs) are reactions where more than two starting materials react to form a product, incorporating all of the atoms of the educts. These reactions are classified according to the reaction mechanisms, the components involved, or their intrinsic variability. This paper discusses stereocontrol in MCRs, novel isocyanide based MCRs (IMCRs), applications of MCRs in drug discovery, MCRs in natural product synthesis, and miscellaneous applications of IMCRs.