One SERM that may exhibit some of these properties is raloxifene, a drug approved by the FDA in 1997 for preventing osteoporosis in postmenopausal women.

Raloxifene appears to function like estrogen in bone, acting to maintain bone strength and increase bone density. In addition, raloxifene also resembles estrogen in its ability to lower LDL cholesterol levels, thereby decreasing the risk of heart disease.

Although information on the long-term risks and benefits of raloxifene is limited compared to tamoxifen, preliminary evidence suggests that raloxifene may exert these beneficial effects on bones, heart, and blood vessels without increasing a woman's risk of developing cancer.