The use of contact lenses as ocular bandages for drug delivery was envisioned nearly 50 years ago by Wichterle and co-workers. Despite the therapeutic advantages that can be obtained, this application has to face up to the poor affinity shown by commercially available contact lenses for most ophthalmic drugs, resulting in small amounts of drug being loaded and short time of therapeutic levels in the eye structures. Novel strategies that appeared in the beginning of 21st century, for example coating lenses with vitamin E, incorporation of drug nanocarriers or application of molecular imprinting technology, are becoming relevant tools for development of true drug/contact lens combination products that may be available for ocular therapy in the foreseeable future.