Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) and selective COX-2 inhibitors. Its functional groups enable further chemical modifications, making it valuable in constructing complex drug molecules. Commonly employed in research settings for designing compounds with analgesic and antipyretic properties. Also utilized in the preparation of heterocyclic systems through cyclization reactions, supporting the discovery of new bioactive molecules.