However, the drug, Fablyn (lasofoxifene tartrate) should be restricted to women at high risk of fracture or those who fail other treatments.
Pfizer developed the drug with technology from Ligand Pharmaceuticals Inc.
The committee voted 9-3 that the drug that treats osteoporosis, which generally leads to bone fractures, in postmenopausal women.
One member abstained. The FDA will consider the panel's advice in its decision and has until sometime in October to make a decision.
The drug manufacturer is seeking Food and Drug Administration (FDA) approval for the drug, which can give women an alternative to other osteoporosis treatments, some of which have multiple side effects.
The drug has been rejected by the FDA three times earlier because of potential side effects. The drug belongs to a group of medicines called selective estrogen receptor modulators that work like the hormone estrogen in some parts of the body and not in other parts.
Eli Lilly & Co.'s Evista osteoporosis drug is in that category, which may exert beneficial effects in some tissues without the side effects associated with estrogen.
