This compound is primarily utilized in the synthesis of pharmaceuticals and bioactive molecules. It serves as a key intermediate in the development of drugs targeting various medical conditions, particularly those involving inflammation and immune system modulation. Its structure is beneficial in creating compounds with potential therapeutic effects, such as anti-inflammatory and analgesic properties. Additionally, it is used in research to explore novel drug delivery systems, enhancing the bioavailability and efficacy of active pharmaceutical ingredients. Its application extends to the study of enzyme inhibition, where it aids in understanding biochemical pathways and designing enzyme-targeted therapies.