Molecular and vibrational dynamics of a widely used cholesterol-lowering agent, lovastatin, have been studied by combining nuclear magnetic resonance relaxation experiments (1H NMR) with inelastic neutron scattering (INS) and periodic density functional theory modeling (plane-wave DFT). According to a complementary experimental study, lovastatin shows no phase transitions down to cryogenic conditions, while a progressive, stepwise activation of several molecular motions is observed below room temperature. The molecular packing and intermolecular forces were analyzed theoretically, supported by a 13C NMR study and further correlated with observed molecular dynamics. The NMR relaxation experiments combined with theoretical calculations disclose that molecular dynamics in solid lovastatin is related to methyl group motions and conformational disorder in the methylbutanoate fragment. This is precisely assigned and analyzed quantitatively from both experimental and theoretical perspectives. The neutron vibrational spectroscopy further corroborates that the methyl rotors have a classical nature. In addition to the intramolecular reorientations, the vibrational dynamics was analyzed with an emphasis on the low-wavenumber range. For the first time, the terahertz response of lovastatin was studied by confronting neutron and optical techniques and clearly illustrating their complementarity. The consistent picture of the molecular dynamics is provided, which may support further considerations on alternative drug formulations and the amorphization tendency in this important lipid-lowering drug.