If you are suffering from depression and take Effexor, alcohol should not be a part of your daily life. In truth, one of the major side effects is increased thoughts of suicide and the tendency to act on those ideas. Alcohol is already a depressant, so you want to be very careful. Effexor is a very powerful drug that can also cause irregular heartbeats, seizures, and more. In fact, it has a black box warning that it can be potentially fatal. If your prescription medication does not come with the adequate warnings, or your doctor does not discuss the pros and cons of your prescription, you may have the grounds for a lawsuit.