Used primarily in organic synthesis, it serves as a key intermediate for the production of various heterocyclic compounds. It is particularly valuable in the development of pharmaceutical agents, including potential anticancer and antimicrobial drugs. Additionally, it is employed in the synthesis of dyes and pigments due to its ability to form complex structures. Its bromine atoms make it a useful reagent in bromination reactions, facilitating the creation of other brominated compounds. Researchers also utilize it in the study of enzyme inhibition and receptor binding activities.