Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antihypertensive drugs and other cardiovascular agents. It plays an important role in the production of receptor antagonists due to its ability to form stable heterocyclic structures. Also utilized in agrochemicals for the formulation of certain herbicides and plant growth regulators. Its functional groups allow for easy modification in multi-step organic syntheses, making it valuable in medicinal chemistry research and development.