There is perhaps no better introduction to the current state of fair market value (FMV) in the life sciences industry than that provided by Ann Brandt, Jason Ruchaber, and Timothy Smith in the AHLA/BVR Guide to Healthcare Valuation: "In an effort to control healthcare costs and to maintain a level playing field within the healthcare industry, federal regulators are increasingly focusing their efforts on prosecuting violators of the anti-kickback and Stark laws as well as the False Claims Act. Resulting judgments to date have not been trivial, nor have they been isolated to any one particular segment of the life sciences industry. Numerous medical device and pharmaceutical companies have been targeted by the government, and all indications are that such compliance actions will increase for those companies that fail to comply with these laws, whether intentionally or not." In Part 8 of BVR's Online Symposium on Healthcare Valuation, Brandt, Ruchaber, and Smith join BVR for an examination of recent trends toward more scrutiny of the life sciences industry, tighter enforcement of regulations, and what it means for the practice of determining and analyzing FMV in the industries that comprise the life sciences sector of our economy.