Alprazolam /aelˈpraezəlaem/ ælˈpræzəlæm /or/ , aelˈpreɪzəlaem ælˈpreɪzəlæm available as the Trade /name/ xanax ˈzaenaeks, ˈzænæks among others-is a short acting anxiolytic of. The benzodiazepine class it is commonly used for the treatment, of panic disorder, and anxiety disorders such as (GENERALIZED) anxiety disorder gad or (SOCIAL). anxiety disorder sadlprazolam is mostly used to treat anxiety disorders, panic disorders, and nausea due to chemotherapy. The FDA label advises that the physician should periodically reassess the usefulness of the drug.