Raloxifene affects the cycle of bone formation and breakdown in the body, and reduces loss of bone tissue. Raloxifene is used to treat or prevent osteoporosis in postmenopausal women. Raloxifene is also used to reduce the risk of invasive breast cancer in postmenopausal women who have osteoporosis or who are otherwise at risk of invasive breast cancer. Raloxifene is not a cancer medication and will not treat breast cancer. Raloxifene may also be used for other purposes not listed in this medication guide.