Used as an intermediate in organic synthesis, particularly in pharmaceutical and agrochemical manufacturing. The iodine atom serves as a good leaving group, enabling coupling reactions such as Suzuki or Stille reactions to form carbon-carbon bonds. The ester group can be hydrolyzed to yield carboxylic acids or reduced to alcohols, making it versatile for building complex molecules. Commonly employed in the preparation of heterocyclic compounds and functionalized polymers. Also useful in the synthesis of gamma-iodo acids for radiolabeling applications.