Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs) and cannabinoid receptor modulators. It serves as a building block in medicinal chemistry for constructing biologically active molecules due to its ability to form stable heterocyclic structures. Its carboxylic acid group allows for easy derivatization, enabling the creation of amides, esters, and other functionalized compounds for drug discovery. Also employed in agrochemical research for designing new active ingredients with potential pesticidal or fungicidal activity.