The Life Sciences industry continues to be one of the most buoyant in terms of inorganic growth activities. But at the same time, it also suffers from brand and ethical reputational challenges in the mainstream healthcare ecosystem. The US Department of Health & Human Services – Health Care Fraud & Abuse Control (HCFAC) has observed a quadrupling of both number of defendants as well as number of territories charged. And the implications go beyond just financial. The critical question is: is there enough thinking around the connectivity of the two business imperatives – growth and ethics? In our view the answer is “no”. This article outlines KPMG’s experience in driving Quality & Compliance programme activities and sheds light on the strategic role of the Quality & Compliance function in the Life Sciences industry, and how a focused plan in this space is mission critical during portfolio transformation programmes.