This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various therapeutic agents. It plays a significant role in the development of compounds with potential anti-inflammatory, antimicrobial, and antioxidant properties. Researchers often explore its derivatives for their efficacy in treating diseases related to oxidative stress and microbial infections. Additionally, it is studied for its potential application in creating novel drugs targeting neurological disorders due to its structural compatibility with certain bioactive molecules. Its versatility in chemical reactions makes it a valuable component in medicinal chemistry research and drug discovery processes.