Used as a key intermediate in the synthesis of anticoagulant drugs, particularly in the production of coumarin-based derivatives with blood-thinning properties. It serves as a building block for modifying the coumarin structure to enhance biological activity and selectivity. Also employed in research for developing new pharmaceuticals with potential anti-inflammatory and antimicrobial effects. Its reactive functional groups allow for easy derivatization, making it valuable in medicinal chemistry for structure-activity relationship studies.