TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preparation (Claimed): Preparation of raloxifene oxalate, comprises: dissolving raloxifene base in ethanol at 40-60 degrees C; adding a solution of oxalic acid dihydrate in ethanol to form a reaction mass; and isolating raloxifene oxalate, which is crystalline Form I raloxifene oxalate ethanolate sesquihydrate. Preferred Components: The raloxifene oxalate is in the form of its derivative, which optionally comprises a solvate, hydrate, ester, tautomer, anhydrate, complex, polymorph and/or prodrug. The raloxifene oxalate is a raloxifene oxalate solvate optionally in hydrated form. The raloxifene oxalate is a raloxifene oxalate solvate hydrate. The solvate is a 1-4C alcoholate, preferably ethanolate. The raloxifene oxalate is a hydrate, preferably raloxifene oxalate ethanolate sesquihydrate. The raloxifene oxalate is: crystalline Form I raloxifene oxalate ethanolate sesquihydrate having an X-ray powder diffraction (XRPD) diffractogram comprising peaks at 8.59, 9.03, 14.22, 17.16, 23.26 and 24.74 plus minus 0.2 degrees 2 theta , an XRPD diffractogram comprising further peaks at 10.05, 16.17, 19.23, 21.6, 24.08, 25.22, 26.6 and 27.32 plus minus 0.2 degrees 2 theta and further peaks at 11.37, 12.75, 15.47 and 20.13 plus minus 0.2 degrees 2 theta , an XRPD diffractogram as given in figure 1 of the specification, and an intrinsic dissolution profile as given in figure 2 of the specification; raloxifene oxalate monohydrate, preferably crystalline raloxifene oxalate monohydrate Form II, which has an XRPD diffractogram comprising peaks at 14.94, 18.6 and 20.34 plus minus 0.2 degrees 2 theta ; raloxifene oxalate isopropanolate hemihydrate, preferably crystalline raloxifene oxalate isopropanolate hemihydrate Form III, which has an XRPD diffractogram comprising a peak at 21.38 plus minus 0.2 degrees 2 theta ; or raloxifene oxalate THF hemisolvate monohydrate, preferably crystalline raloxifene oxalate THF hemisolvate monohydrate Form IV, which has an XRPD diffractogram comprising peaks at 18.48, 19.46 and 21.2 plus minus 0.2 degrees 2 theta . The raloxifene base is in any polymorphic form or in a mixture of any polymorphic forms. The raloxifene base is prepared from a salt of raloxifene, other than raloxifene oxalate, where the salt used to prepare raloxifene base is raloxifene hydrochloride. Preferred Process: The isolation comprises isolating precipitated Form I from the reaction mass, followed by drying under reduced pressure at 30-90 degrees C (preferably 60-80 degrees C) for at least 8 hours. The process further comprises stirring the reaction mass for at least 5 hours prior to isolation. ACTIVITY - Osteopathic; Cytostatic.    MECHANISM OF ACTION - Selective estrogen receptor modulator.    ADMINISTRATION - Administration of raloxifene oxalate is oral in the form of tablet (claimed). No dosage details given.    EXAMPLE - Raloxifene Base (180 g) was dissolved in ethanol (1800 ml) at 50-55 degrees C. A solution of oxalic acid dihydrate (23.01 g in 460 ml of ethanol) was added slowly at 50-55 degrees C over a period of 60 minutes and stirred for 8 hours. The reaction mass cooled to 25-30 degrees C, stirred for 30 minutes. The solid was isolated by filtration, washed with ethanol (100 ml) and dried under vacuum at 75-85 degrees C for 8 hours to give crystalline Form I of raloxifene oxalate ethanolate sesquihydrate (yield 190 g).