Osteoporosis, a bone metabolic disease, is one of the major diseases occurring in aging population especially in postmenopausal women. A system of impulsive differential equations is developed in this paper in order to investigate the effects of parathyroid hormone and prolactin on bone-forming cells, namely, osteoblasts, and bone-resorbing cells, namely, osteoclasts, under the impulsive estrogen supplement. The theoretical analysis of the developed model is carried out so that we obtain the conditions on the system parameters in which the stability and permanence of the model can occur. Computer simulations are also provided to illustrate the theoretical predictions.