Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of steroidal and non-steroidal anti-inflammatory drugs. It serves as a building block in organic reactions where bromination facilitates further functionalization through cross-coupling reactions. Its hydroxy and ketone groups allow for derivatization to produce compounds with enhanced biological activity. Commonly employed in research settings for the preparation of naphthol-based compounds with potential applications in medicinal chemistry and drug discovery.