Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinate-based drugs with potential antiviral and anti-inflammatory properties. Its hydroxyl and ester functional groups allow for easy modification, making it valuable in medicinal chemistry for creating derivatives that can enhance drug efficacy or alter pharmacokinetics. Also employed in research settings to explore new heterocyclic compounds and as a building block in the preparation of biologically active molecules targeting central nervous system disorders.