Used in the synthesis of pharmaceutical compounds, particularly as an intermediate in the production of drugs targeting inflammation and pain. It plays a role in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) due to its structural properties. Additionally, it is utilized in organic chemistry research for creating complex molecules with potential therapeutic applications. Its derivatives are explored for their antioxidant and antimicrobial properties, making it valuable in the development of new medications and health-related products.