Used in organic synthesis as an intermediate for pharmaceuticals, particularly in the development of nicotinic receptor ligands and central nervous system agents. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for constructing heterocyclic compounds. Commonly employed in cross-coupling reactions due to the presence of iodine, enabling the formation of carbon-carbon bonds in drug-like molecules. Also utilized in the preparation of kinase inhibitors and other bioactive compounds.