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Generic: Niacin (Vitamin B3) Brand: Slo-Niacin NIACIN (NYE a sin) is used in combination with a healthy diet to lower bad cholesterol and increase good cholesterol. This medicine is also used to decrease triglycerides. If triglycerides are too high, you may be at risk of developing pancreatitis. This is a painful condition that causes inflammation of the pancreas and can lead to serious health problems. This medicine can also be helpful in patients who have heart disease or who have had a heart attack.