Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building heterocyclic compounds. Commonly employed in research settings to develop new drug candidates targeting inflammation, pain, and central nervous system disorders. Also utilized in agrochemicals for the development of certain pesticides and plant growth regulators due to its stability and reactivity profile.