Used in the synthesis of pharmaceuticals, particularly in the development of compounds with potential therapeutic effects. It serves as a key intermediate in the production of drugs targeting neurological disorders, such as Parkinson's disease and depression, due to its structural similarity to biologically active molecules. Additionally, it is employed in organic chemistry research for constructing complex heterocyclic compounds, which are valuable in drug discovery and material science. Its derivatives are also explored for their antioxidant and anti-inflammatory properties, making it a versatile building block in medicinal chemistry.