This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly in the development of antimalarial drugs. Its structure is key in creating derivatives that exhibit biological activity against Plasmodium species, the parasites responsible for malaria. Additionally, it serves as an intermediate in organic synthesis, aiding in the production of complex molecules for medicinal chemistry research. Its bromine and hydroxyl groups make it a versatile building block for constructing heterocyclic compounds, which are often explored for their therapeutic potential.