In February of this year, the FDA added new safety warnings for cholesterol reducing medications known as statins. There are increased risks of type II diabetes and memory loss for patients who take these medications. This is interesting, because diabetes is frequently associated with high cholesterol (which these drugs help) and some studies actually suggest that statins are protective in Alzheimer's disease (although large clinical trials have not shown this to be the case).
Memory loss due to statins is generally very mild, and it only occurs in about one percent of patients who take the medication. Symptoms improve after the medication is stopped.
The FDA also reminded patients that the benefits of statins in helping reduce cardiac risk factors (and I might add, stroke) is well established, and so this shouldn't scare people off the drugs all together.