Can xanax alprazolam also help with depression as well as anxiety and panic disorder?

Maybe, but danger: Upjohn originally proposed xanax (alprazolam) in the 1970's as an antidepressant, showing effectiveness like tricyclics. The fda only allowed it as an anti-anxiety agent "that doesn't cause depression" [like others do]. It's a benzodiazepine; it may have some antidepressant effects but isn't effective alone. Induces dependency very easily and is hard to get off of. http://www.ncbi.nlm.nih.gov/pubmed/22786504.

No: Xanax (alprazolam) is an effective anxiolytic that kicks in in about 1/2 to. 1 hr & lasts about 4 hrs --it's easy to become tolerant to it &/or develop dependency on it--it doesn't help clinical depression.

Xanax (alprazolam): Anxiety can coexist with depression, but xanax (alprazolam) by itself would not effectively treat depression without an antidepressant.