Used as an intermediate in the synthesis of pharmaceuticals, particularly in the preparation of certain anti-inflammatory and analgesic agents. It serves as a building block in organic reactions where halogenated aromatic compounds are needed for coupling or substitution processes. Its structure allows for further functionalization, making it valuable in drug development and medicinal chemistry research. Also employed in the production of radiolabeled compounds for diagnostic imaging due to the presence of iodine, which can be replaced with radioactive isotopes.