Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antidiabetic and antihypertensive drugs. It serves as a building block in the production of nicotinic acid derivatives, which are important in metabolic and cardiovascular therapies. Also employed in agrochemical synthesis for crop protection agents due to its ability to enhance reactivity and selectivity in organic reactions. Its hydroxyl and carboxylic acid functional groups allow for easy modification, making it valuable in medicinal chemistry for creating novel compounds with improved bioavailability and target specificity.