Farewell from a blockbuster benzo

Xanax, one of Australia's best-known brand-name drugs, is to be withdrawn after 22 years on the market, Pfizer has announced.

With generics eating into its market share, and a move to Schedule 8 imminent, the pharmaceutical giant has decided Xanax (alprazolam) is no longer commercially viable in Australia.

All four currently available dosages will be discontinued from 1 December 2013.

Doctors will still be able to prescribe alprazolam, but should be aware that only generic versions will be dispensed.

Generics already made up two-thirds of alprazolam scripts dispensed in Australia