Medications for panic disorder are indicated when psychotherapy is not successful, or for severe cases. If your doctor is considering you for medication treatment for panic disorder, then the first choice should be either SSRIs (selective serotonin reuptake inhibitors) or SNRIs (serotonin norepinephrine reuptake inhibitors). However, it can take up to 8 weeks for these antidepressants to have full effect, so if you are experiencing anxiety symptoms, then your doctor can consider adding a benzodiazepine such as Klonopin (clonazepam) to the antidepressant. And when the SSRI/SNRI becomes effective weeks later, then the benzodiazepine can be discontinued.
Other medications that can be used to treat panic disorder include TCAs (tricyclic antidepressants) and MAOIs (monoamine oxidase inhibitors). However, these medications are not prescribed much as they are associated with significant side effects and require careful monitoring to avoid adverse effects.