How Effexor May Treat Anxiety Disorders (Mechanisms) When considering Effexor as an anxiolytic, it may be beneficial to understand how it treats anxiety disorders. Being classified as an SNRI, we can speculate that anxiety reductions stem primarily from its affinity to increase extracellular serotonin. Effexor XR (venlafaxine), the extended release version of the prescription medication Effexor, is used to treat three anxiety disorders: generalized anxiety disorder (GAD), social anxiety disorder and panic disorder. Both medication and therapy have been shown effective in treating social anxiety disorder. Generalized social anxiety disorder responds best to a combination of medication and therapy, while therapy alone is often sufficient for people diagnosed with performance only SAD. What is Effexor XR? Effexor XR (generic name: venlafaxine) is a once-daily serotonin and norepinephrine reuptake inhibitor (SNRI) medication primarily used to treat depression, anxiety, and panic disorders in adolescents and adults. Effexor XR is a drug that is used to treat depression and anxiety disorders. This page on the eMedTV Web site explains how this prescription medicine works, and also discusses Effexor XR side effects, general dosing information, and off-label uses. Venlafaxine is used to treat major depressive disorder and anxiety and panic disorders. It is a serotonin-norepinephrine reuptake inhibitor. It is used off-label to treat migraine , diabetic. Antidepressants, particularly the selective serotonin reuptake inhibitors (SSRIs), are widely used to treat and prevent a variety of anxiety disorders. Effexor (venlafaxine) is used to treat major depressive disorder, anxiety, and panic disorder. Includes Effexor side effects, interactions and indications. User Reviews for Effexor XR to treat Anxiety. The following information is NOT intended to endorse drugs or recommend therapy. While these reviews might be helpful, they are not a substitute for the expertise, skill, knowledge and judgement of healthcare practitioners in patient care. Overview. Effexor (Venlafaxine) is used to treat depression and social anxiety disorder / social phobia. It works by improving energy level and mood and helps to restore interest in daily living.