Used as a key intermediate in organic synthesis, particularly in the production of pharmaceuticals. It serves as a building block for drugs with antimicrobial, antiviral, anti-inflammatory, and potential anti-cancer properties, with research focusing on derivatives for cancers involving abnormal cell death mechanisms. Commonly used in the development of compounds targeting diabetes due to its structural similarity to thiazolidinediones, which are insulin sensitizers, and its ability to modulate receptors involved in blood sugar control. Also utilized in agrochemicals for creating herbicides and pesticides. Its ring structure is valuable in medicinal chemistry for designing bioactive molecules and enhancing metabolic stability in drug candidates.