2 Reviews. Fenofibrate is the generic form of the brand name drug Tricor, used to treat high levels of cholesterol and triglyceride in your blood. Fenofibrate belongs to a class of medications known as antilipemics and fibric acid. It works by breaking down fats and helping the body eliminate triglycerides. Tricor was originally approved by the Food and Drug Administration (FDA) in 2001 and is manufactured by Abbott Laboratories.