Blue Xanax Blue Xanax or Alprazolam 1 mg is a benzodiazepine. The FDA approves this drug for the treatment of anxiety disorders and panic attacks. Besides, Xanax is available in other strengths, such as 0.25 mg, 0.5 mg, and 2 mg. According to the DEA, the color present in the Blue Xanax bar is safe to consume. Moreover, Alprazolam is beneficial for different kinds of anxiety disorders. Generally, doctors prescribe it for treating generalized anxiety disorder. Blue Xanax is a prescription medicine and requires medical approval. Thus, consult with a physician before using Xanax for anxiety or otherwise.