Used as an intermediate in pharmaceutical synthesis, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs) and related pyrazole-based therapeutics. Its hydroxyl group allows for further functionalization, enabling the creation of esters, ethers, or conjugates that enhance drug solubility or bioavailability. Also employed in the preparation of biologically active compounds targeting pain and inflammation due to the inherent pharmacological profile of the pyrazole core. Its structure supports derivatization for use in medicinal chemistry research and development.