Used primarily in pharmaceutical research, it serves as a key intermediate in the synthesis of various bioactive compounds. Its tetrazole moiety is particularly valuable in drug development, often incorporated into molecules to enhance binding affinity and metabolic stability. Additionally, it finds application in the design of angiotensin II receptor antagonists, which are crucial for treating hypertension and heart-related conditions. The phenol group further allows for versatile chemical modifications, enabling the creation of diverse derivatives for medicinal chemistry studies.