Strontium ranelate has recently been introduced for the prevention and treatment of osteoporosis in Europe and in many countries worldwide. This study aims to review the published cost-effectiveness literature pertaining to strontium ranelate. Six studies were identified: two in United Kingdom, two in Belgium and two in Sweden. The findings were consistent across the literature, suggesting that strontium ranelate is a cost-saving drug for women with osteoporosis aged over 80 years of age, and it is a cost-effective treatment compared with no treatment for osteoporotic women aged over 70 years and for younger women with clinical risk factors for fragility fracture. Strontium ranelate was also shown to be cost-effective compared with branded risedronate in osteoporotic women over 75 years. Further analyses are required to assess effectiveness and adherence to strontium ranelate in real-life settings, as well as to evaluate the cost-effectiveness of strontium ranelate in other countries and in populations of men.