Used as a key intermediate in the synthesis of anticoagulant drugs, particularly in the production of vitamin K antagonists like warfarin. It serves as a building block in organic synthesis due to its reactive carbonyl and carboxylic acid groups, enabling derivatization for pharmaceuticals. Also employed in the development of metal-organic frameworks (MOFs) owing to its ability to chelate metal ions. Its structure supports use in research for designing new bioactive molecules and enzyme inhibitors.