Alprazolam (Niravam, Xanax) is an inexpensive drug used to treat anxiety and panic attacks. This drug is more popular than comparable drugs. It is available in multiple brand and generic versions. Generic alprazolam is covered by most Medicare and insurance plans, but some pharmacy coupons or cash prices may be lower. The lowest GoodRx price for the most common version of alprazolam is around $35.11, 46% off the average retail price of $65.27. Compare benzodiazepines.