Selective estrogen receptor modulators (SERMs) interact with estrogen receptors located throughout the body. The SERM, raloxifene, is currently approved for prevention and treatment of postmenopausal osteoporosis. Through its selective interaction with estrogen receptors, raloxifene exerts estrogen agonist action in some target tissues, while acting as an estrogen antagonist in others. It has been shown to provide some of the benefits of estrogen (improvement of BMD and cholesterol) without some of the negative side effects (such as breast tenderness and menstrual bleeding or spotting) or inherent risks. ⁶³