Xanax is a brand name for alprazolam, a medication in the benzodiazepine class. It is commonly prescribed to manage anxiety disorders, panic disorders, and sometimes for the treatment of depression when it is accompanied by anxiety. Xanax Used to treat generalized anxiety disorder (GAD) and other anxiety-related conditions. It Helps manage panic attacks and panic disorder. It Available in tablet form, including immediate-release (IR) and extended-release (XR) formulations.