In recent years, the pharmaceutical industry has become very interested in sex as a focus for drug development and marketing. Many sexologists have embraced this new trend particularly because of greatly welcomed research funding and increased professional opportunities. However, this new relationship may be a Faustian bargain, and certainly raises serious ethical, political, theoretical, and research problems which must be openly discussed. This paper examines background elements which have led to this new science-industry rapprochement, discusses research and publication problems which have arisen, analyzes conflicts between the models of sexuality favored by industry and sexology, and offers advice for preventing further erosion of sexology's liberatory mission despite the threats of commercialization.