Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinic acid derivatives with potential metabolic and cardiovascular applications. It serves as a building block in medicinal chemistry for designing compounds that modulate enzyme activity, especially in pathways related to lipid metabolism. Its structural features allow for effective chelation and binding to metal ions, making it useful in catalysis and in the preparation of coordination polymers. Also employed in research settings to develop novel heterocyclic compounds with biological activity.