Milrinone (MRN) is a second-generation bipyridine phosphodiesterase inhibitor that improves cardiac function and peripheral vasodilation in acute decongested heart failure patients. Due to its poor aqueous solubility and high permeability, it is classified as a biopharmaceutical classification system class II drug. The present study aimed at screening binary cocrystals of MRN with different coformers containing fluoro-substitution. Four cocrystals were obtained with 4-fluorobenzoic acid (4-FBA), 2,5-difluorobenzoic acid (25-DFBA), 3,4,5-trifluorobenzoic acid, and 2,3,4,5tetrafluorobenzoic acid and a salt with 5-fluoro-2-hydroxybenzoic acid (5F-2-HBA). These binary crystalline products were characterized by powder X-ray diffraction, single-crystal X-ray diffraction, IR spectroscopy, differential scanning calorimetry, and thermogravimetry analysis. Their crystal structures were analyzed in terms of hydrogen bonding, supramolecular synthons such as carboxylic acid−pyridine, amide−amide dimer, hydroxyl−pyridine, and weak intermolecular interactions. The polar hydrogen bonding and nonpolar hydrophobic interactions in the crystal structures were partitioned by a Hirshfeld surface analysis. The solubility, dissolution rate, and diffusion/permeability of the MRN cocrystal/salt were studied in a physiological medium of pH 7.0. Fluorinated coformers resulted in faster dissolution and higher diffusion in all cases; specifically, MRN-4-FBA exhibited the highest drug concentration (58 mg/L) and MRN-25-DFBA the highest diffusion (130 mg/L) across dialysis membrane-135 in a pH 7.0 buffer. In addition to bioavailability, which is calculated as solubility × permeability and is a measure of the overall drug concentration in the medium, we propose calculation of drug diffusion normalized for the differences in drug concentration for the different cocrystals/salts in the experimental medium (Diff norm = Diff/Diss), as a corrected parameter to quantitatively measure the change in drug diffusion effects of cocrystals and salts relative to the reference drug concentration.