Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for further functionalization, making it valuable in medicinal chemistry for constructing complex aromatic systems. Commonly employed in coupling reactions and heterocycle formation due to the presence of both amino and iodo groups, which enable selective transformations. Also utilized in research settings for labeling and tracer studies owing to the iodine atom, which can be replaced with radioactive isotopes for imaging purposes.