About raloxifeneselective estrogen-receptro modulator (serm), benzothiophene derivative, osteoporosis in postmenopausal women.mechanism of action of raloxifeneraloxifene is a selective estrogen-receptor modulator (serm) that has been approved for use in the prevention and treatment of osteoporosis in postmenopausal women. a serm interacts with estrogen receptors, functioning as an agonist in some tissues and an antagonist in other tissues. raloxifene has estrogen agonist-like effects on bone and on cholesterol metabolism and antagonist-like effects on the endometrium and breasts- it produces some of the beneficial effects of estrogen without the possible adverse effects.