Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various therapeutic agents. Its structure is particularly valuable in the development of drugs targeting the central nervous system, including medications for Parkinson's disease and other neurological disorders. Additionally, it plays a role in the creation of antispasmodic and antiemetic drugs, helping to alleviate muscle spasms and nausea. The compound's bicyclic framework is also exploited in research for designing novel molecules with potential analgesic and antipsychotic properties. Its versatility in medicinal chemistry makes it a crucial component in the development of treatments for a range of health conditions.