Clnically, here the the issues I have with Effexor, good & bad.
The good:
+its a very clean antidepressant. Not the lowest level of metabolic activity imposed on the liver, but very low compared to the other antidepressants.
+Because of its dual mechanism, it can be considered a good alternative should an SSRI not work
+its going generic-hopefully its price will drop sooner vs later
+the NRI effect, although there is no FDA approval for this, may create pain benefits. This has been documented in studies, and why several docs also give it for pain benefits & fibromyalgia (though I know of no head to head study vs duloxetine).
+It has some benefit with ADHD.
The BAD
-can increase BP (which may be a good thing if the patient has hypotension)
-its short half life highly increases its risk for discontinuation syndrome (DCS). I've only had patients have DCS with 2 antidepressants--Paxil or Effexor, both of which have the shortest half lives, even when slowly weaning them off. I had one patient who was switched to Effexor XR & I still couldn't get her off of the med despite weaning her to the smallest dose without discontinuation syndrome which she claimed she couldn't bear & then would still take the smallest dose. Unfortunately because its a capsule, I couldn't have her split it in half.
Edit-just read Anasazi's post. I guess my experience with it differs from his. I also got to add that this patient did seem a bit, ahem, med seeking which may have contributed her not wanting to stop Effexor XR. However still, the only meds where patients strongly complained about the wean off were Paxil & Effexor, and the half lives correlate to give a good explanation as to why.
I've heard of no memory problems with this med, though this could due to ignorance on my part. I figure if anything memory should improve because concentration & memory often times suffer from depression, depression inhibits the release of Brain Derived Neurotrophic Factor (antidepressants restore the release of this) which studies show causes hippocampal atrophy & degradation of long term memory & it improves sx of ADHD.
I've also had no problems with patients mentioning memory problems with effexor.
Edit--I just double checked my Epocrates & memory problems is not on its complaint list for the med. Also take into consideration that Epocrates mentions adverse reactions that are extremely rare. It could be that patients with memory problems are still suffering from memory problems caused by depression & not the effexor. I will though keep an open mind on this & if I see anything with Effexor & memory I'll post it.