Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of iodinated and brominated aromatic compounds. Its dual halogen functionality allows for selective cross-coupling reactions, making it valuable in medicinal chemistry for constructing complex molecules. Commonly employed in Suzuki and Heck reactions to build biaryl structures found in bioactive compounds. Also utilized in the preparation of radiopharmaceuticals and imaging agents due to the presence of iodine, which can be substituted with radioactive isotopes. Its carboxylic acid group enables further derivatization, such as ester or amide formation, expanding its utility in drug discovery and materials science.