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Raloxifene . Raloxifene, a selective estrogen receptor modulator, is approved for treating postmenopausal osteoporosis, and is effective at reducing vertebral fractures only. 16 , 26 Raloxifene is commonly associated with increased vasomotor symptoms. It is associated with an increased risk of venous thromboembolism and a decreased risk of invasive breast cancer. 16 The best candidates for raloxifene are postmenopausal women with osteoporosis who are unable to tolerate bisphosphonates, have no vasomotor symptoms or history of venous thromboembolism, and have a high breast cancer risk score. 16 , 27 Bazedoxifene is a selective estrogen receptor modulator more recently approved for use in the United States for the prevention of osteoporosis as part of a combination therapy with conjugated estrogen (Duavee).