Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic receptor agonists and antagonists. It serves as a building block in the development of drugs targeting neurological disorders such as Alzheimer's and Parkinson's diseases. Also utilized in agrochemicals for the creation of novel pesticides due to its ability to modify bioactive molecules. Its bromine and hydroxyl functional groups allow for selective chemical modifications, making it valuable in organic synthesis and medicinal chemistry research.