Primarily used in the pharmaceutical industry as a stabilizing agent and excipient in drug formulations. It helps enhance the solubility and bioavailability of certain active pharmaceutical ingredients (APIs), particularly in injectable medications. Additionally, it serves as a buffering agent to maintain pH stability in various medicinal preparations. Its chelating properties are also utilized in preventing metal ion contamination in sensitive drug products. Outside pharmaceuticals, it finds limited application in research and development for synthesizing complex organic compounds.