This chemical is primarily utilized in the synthesis of various pharmaceutical compounds. Its structure makes it a valuable intermediate in the development of drugs targeting specific receptors or enzymes. It is often employed in research and development for creating molecules with potential therapeutic effects, particularly in areas like anti-inflammatory or antimicrobial treatments. Additionally, it serves as a building block in organic synthesis, aiding in the creation of complex chemical structures for further study or application in medicinal chemistry. Its unique combination of functional groups allows for versatile reactivity, making it a useful component in the design of novel bioactive compounds.