Used in pharmaceutical research as a key scaffold for developing antidiabetic agents. It exhibits insulin-sensitizing properties and serves as a precursor in synthesizing compounds that target peroxisome proliferator-activated receptors (PPARs), particularly PPARγ, which plays a central role in glucose and lipid metabolism. Derivatives of this compound show potential in managing type 2 diabetes due to their ability to improve insulin resistance. Additionally, it has been explored for anti-inflammatory and anticancer activities, making it valuable in medicinal chemistry for designing multifunctional therapeutic agents. Its structure allows easy modification to enhance bioavailability and reduce side effects commonly associated with similar drugs.