Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinic acid derivatives and receptor agonists. It serves as a building block in the preparation of biologically active compounds, including those with potential anti-inflammatory and neuroactive properties. Its functional groups allow for selective reactions in cross-coupling and esterification processes, making it valuable in medicinal chemistry and drug design. Also employed in the production of agrochemicals and specialty heterocyclic compounds.