Recent innovations in quantum computing hardware and algorithms have raised expectations that practical, real-world applications are within reach. In this context, we explore the potential impact of quantum computing on the drug discovery and development pipeline. Specifically, we discuss use cases from our research programs and outline approaches for prioritizing them based on our assessment of potential benefit from quantum computation. We identify and discuss specific classes of quantum chemistry problems that present challenges for classical computing methods, and where we have made initial efforts to develop and apply quantum computing algorithms. Finally, we offer a perspective on opportunities that will become available as we enter the early-fault tolerant era.