Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic receptor agonists and antagonists. Plays a role in the development of drugs targeting neurological disorders such as Alzheimer's and Parkinson's disease. Also utilized in agrochemicals for the creation of novel pesticides due to its ability to enhance bioactivity in active ingredients. Its functional groups allow for easy modification in multi-step organic syntheses, making it valuable in medicinal chemistry research.