Anxiety disorders play a prominent role in general medical and psychiatric practice, and their lack of recognition leads to significant morbidity. A major thrust of recent patent activity builds on clinical successes provided by serotonergic and GABA-ergic agents. A new understanding of the molecular basis for GABAA receptor subtype selectivity presents new possibilities for designing drugs that are highly specific for subpopulations of this receptor family. Despite a lack of clinical experience with less well-known neuropeptide agents, corticotrophin-releasing hormone (CRH) antagonists appear promising. This paper reviews the most prevalent anxiety disorders, their pharmacological treatments and describes trends in therapeutic patent activity since 1997.