Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) and selective COX-2 inhibitors. Its structure allows for effective binding and modulation of enzyme activity, making it valuable in medicinal chemistry. Also employed in the preparation of agrochemicals and bioactive molecules due to its stability and reactivity in coupling reactions. Commonly utilized in research settings for constructing heterocyclic compounds with potential therapeutic applications.