Xanax or Alprazolam is a medical drug given by doctors to treat patients suffering from anxiety and panic attacks. This medicine helps patients by calming the overactive nerves. This medicine works on the central nervous system and provides relief. It is highly addictive, so that if consumed more, the dosage may lead to addiction and dependence. There are short-term and long-term effects of Xanax. Short-term effects include poor concentration, difficulty in speaking, and breathing problems. This short-term effect may occur just after consumption. The long-term impact of Xanax involves problems in breathing, hallucinations, and sleeplessness.