Livalo is used together with diet to lower blood levels of 'bad' cholesterol (low-density lipoprotein, or LDL) and triglycerides, to increase levels of 'good' cholesterol (high-density lipoprotein, or HDL), and to lower triglycerides (a type of fat in the blood). Livalo belongs to a group of drugs called HMG CoA reductase inhibitors, or 'statins.'