Primarily utilized in organic synthesis, this compound serves as a versatile intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of pyrazolidine derivatives, which are crucial in creating anti-inflammatory and analgesic drugs. Additionally, it is employed in the synthesis of complex molecules for research purposes, aiding in the exploration of new therapeutic agents. The compound's stability and reactivity make it a preferred choice in multi-step synthetic processes, ensuring efficient and high-yield transformations.