Calcitonin had a surge of interest as a therapeutic agent for osteoporosis in the three decades following its discovery as a calcium lowering hormone, in 1961. Injectable salmon calcitonin was approved for the treatment of osteoporosis in 1984 on the basis of favorable effects on bone density. Intranasal preparations have been widely used in osteoporosis for many years. However, evidence for efficacy in reducing fracture risk has not been very compelling, and limited to vertebral fractures. Oral preparations of calcitonin have failed to show antifracture effectiveness. This uncertain therapeutic profile and recent concerns about risk of cancer have severely limited the use of calcitonin to only specific conditions and for short-term treatment periods. Calcitonin also has a modest analgesic effect, but its mechanisms remain uncertain.