Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of indole-based drugs. It plays a role in creating compounds with potential anti-inflammatory, antiviral, and anticancer activities. The ester and carboxylic acid functional groups allow for further chemical modifications, making it valuable in medicinal chemistry for building complex molecules. It is also employed in research settings to develop new bioactive substances and in the preparation of analogs for structure-activity relationship studies.