Effexor XR

Generic name

Venlafaxine HCl

Covered by Medicare


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Average Annual Cost per Beneficiary


Average cost per year*

Average Annual Cost per Dose



Average cost per beneficiary*


  • Wyeth/Pfizer
  • Pfizer/Viatris

What is Effexor XR

Venlafaxine is used to treat depression, anxiety, panic attacks, and social anxiety disorder (social phobia). It may improve your mood and energy level and may help restore your interest in daily living. It may also decrease fear, anxiety, unwanted thoughts, and the number of panic attacks. Venlafaxine is known as a serotonin-norepinephrine reuptake inhibitor (SNRI). It works by helping to restore the balance of certain natural substances (serotonin and norepinephrine) in the brain. NOTE: This is a summary and does NOT have all possible information about this product. This information does not assure that this product is safe, effective, or appropriate for you. This information is not individual medical advice and does not substitute for the advice of your health care professional. Always ask your health care professional for complete information about this product and your specific health needs.

Drug Trends

*Origin of the terms and chart data used within this page: https://data.cms.gov/

Common Questions About Effexor XR

Yes, Effexor XR is covered by Medicare.

In 2021, the average cost per dose of Effexor XR was $16.70.

The average dose of Effexor XR received per year is 2,074,676 units

3,623 Medicare beneficiaries received Effexor XR in 2021, which was a -0.17% from 2020

There were 23,148 claims made by Medicare beneficiaries, which is a -0.18% from 2020

The average spending amount per claim in 2021 was $1,176.64

The average Medicare spending per beneficiary amount for Effexor XR was $7,517.74

The most expensive manufacturer of Effexor XR is Pfizer/Viatris

Wyeth/Pfizer is the least expensive manufacturer with an Average Spending Per Dosage Unit of $13.29

Pfizer/Viatris received $27,166,106.46

The total amount spent on Effexor XR by Medicare is $27,236,779.96

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