Bazedoxifene is a third-generation selective estrogen receptor modulator (SERM) developed for the prevention and treatment of osteoporosis in postmenopausal women, acting by mimicking estrogen’s beneficial effects on bone while avoiding stimulation of breast and uterine tissues. It was originally developed by Wyeth (later acquired by Pfizer), with research efforts beginning in the 1990s as part of a broader search for safer alternatives to hormone replacement therapy. After extensive clinical trials demonstrating its ability to increase bone mineral density and reduce vertebral fracture risk, it was approved in the European Union in 2009 and later in other regions; in the United States, it gained approval in combination with conjugated estrogens as a therapy for menopausal symptoms and osteoporosis prevention. Over time, bazedoxifene has also been studied for potential roles in breast cancer and endometrial safety, reflecting its tissue-selective activity profile.