Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and anti-inflammatory agents. Its structure supports the formation of biologically active molecules by serving as a building block in heterocyclic chemistry. Commonly employed in medicinal chemistry for constructing pyrazole-based drug candidates due to its reactive hydroxyl and ester functional groups, which allow for further chemical modifications. Also utilized in agrochemical research for designing new active ingredients in crop protection agents.