What is Xanax and how does it work? Learn about its uses for anxiety and panic attacks, how fast it works, dosage guidelines, side effects, and alternatives. Xanax (alprazolam) is a benzodiazepine medication used to treat anxiety and panic disorders. Includes side effects, interactions and safety information. Alprazolam, sold under the brand name Xanax among others, is a fast-acting, potent tranquilizer of moderate duration within the triazolobenzodiazepine group of chemicals called benzodiazepines. [15] Find patient medical information for Alprazolam (Xanax) on WebMD including its uses, side effects and safety, interactions, pictures, warnings, and user ratings Alprazolam is a benzodiazepine. Benzodiazepines belong to the group of medicines called central nervous system (CNS) depressants, which are medicines that slow down the nervous system. This medicine is available only with your doctor's prescription. This product is available in the following dosage forms: XANAX is approved to treat anxiety disorders, provide short-term anxiety relief, and treat panic disorder, with or without agoraphobia. Take XANAX exactly as prescribed by your doctor to avoid serious side effects that may occur like addiction, coma, or death. Xanax (Alprazolam) may treat, side effects, dosage, drug interactions, warnings, patient labeling, reviews, and related medications including drug comparison and health resources.