Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals, particularly antibiotics and antifungal agents. Its structure is valuable in constructing heterocyclic compounds, which are often active ingredients in medicinal drugs. Additionally, it is utilized in research and development for creating novel compounds with potential therapeutic applications. Its role in chemical reactions, such as cyclization and functional group transformations, makes it a versatile building block in drug discovery and development processes.