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The five membered hetrocyclic oxadiazole ring containing derivatives have been extensively studied owing to their wide spectrum of biological activities. Different series of oxadiazole derivatives have been reported in order to obtain new compounds with potential biological effects viz anti-inflammatory activity, anticancer activity, antimicrobial activity, analgesic activity and lower ulcerogenic potential. This book reports about the role of oxadiazole derivatives and their associated biological activities in field of medicinal chemistry.