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How Risedronate Works Risedronate is a medication that belongs to the family of medicines known as Bisphosphonates. Actonel and its generic counter- part are used to treat and prevent osteoporosis. Over-the-counter (OTC) medicines are drugs you can buy without a prescription. Some OTC medicines relieve aches, pains, and itches. Some prevent or cure diseases, like tooth decay and athlete's foot. Others help manage recurring problems, like migraines and allergies. In the United States, the Food and Drug Administration decides whether a medicine is safe and effective enough to sell over-the … Actonel (risedronate) is used to treat or prevent osteoporosis and to treat Paget's disease of bone. Includes Actonel side effects, interactions and indications. When Actonel is taken with other prescription drugs, over-the-counter medications, vitamins, and supplements, it may change how they work or increase the frequency or severity of side effects. 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