The recent years have seen a reemergence of organophosphorus molecules as drugs or drug candidates, and a significant number of them have reached the market. If organophosphorus particularly shines in the cancer area and for the treatment of viral infections, the biological applications were substantially broadened. This review surveys phosphino- and phosphinolactone heterocycles from a period starting in 2000 and ending in 2014 whatever the ring size. This review is organized in four sections dealing with activities against cancers, virus, bacteria, and the last section, with miscellaneous applications of title compounds.