Ethyl 5-bromo-2-iodobenzoate is primarily used as an intermediate in organic synthesis. It plays a significant role in the development of pharmaceuticals, particularly in the synthesis of complex molecules. The compound is often utilized in cross-coupling reactions, such as Suzuki or Sonogashira reactions, to create biaryl structures or other aromatic compounds. These reactions are essential in producing active pharmaceutical ingredients (APIs) and other fine chemicals. Additionally, it serves as a building block in the preparation of agrochemicals and materials science research, where its halogenated aromatic structure is valuable for further functionalization. Its applications are particularly notable in the field of medicinal chemistry, where it contributes to the discovery and optimization of drug candidates.