Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic acid derivatives with potential antihypertensive and anti-inflammatory activity. Commonly employed in the development of NAD (nicotinamide adenine dinucleotide) analogs for biochemical research. Also serves as a building block in the preparation of heterocyclic compounds for drug discovery and in agrochemical formulations for crop protection agents. Its hydroxyl and ester functional groups allow for easy modification in multi-step organic syntheses.