Used as a stabilizing agent in pharmaceutical formulations to enhance the shelf life of drugs by chelating metal ions that can catalyze degradation reactions. Commonly found in ophthalmic solutions where it helps maintain clarity and potency by preventing oxidation. Also utilized in diagnostic reagents, particularly in blood collection tubes, to preserve sample integrity by inhibiting metal-dependent enzymatic activity. Its chelating action supports enzyme assays and other laboratory tests requiring controlled metal ion environments. Employed in cosmetic products to improve product stability by neutralizing trace metal contaminants that promote rancidity or discoloration.