In bars? No, it doesn't.
First off, the pheromone sprays are bullshit. Every wet-eared frat boy in those places is drowning in the stuff, so nobody's going to pick up your scent. Secondly, regardless of what Axe and Tag tell you, we've evolved past conditioning for chasing partners based on pheromone smells. Besides, when you can consciously smell it and pick it out, even taste it in the air, it's painfully overdone. It's like stuffing your pants with the entire sock drawer.
And for the most part, girls don't approach the mopey depressed guys in bars. They came out to have fun, not to play Dear Abby for some smelly overcompensating bum.
That is the truth!