Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antiviral and anticancer agents. It serves as a building block in the development of nucleoside analogs, which interfere with viral replication or tumor cell proliferation. Also employed in the preparation of agrochemicals, including certain herbicides and fungicides, due to its ability to enhance bioactivity in active ingredients. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for designing new drug candidates.