"A roll of gauze, suited to staunch bleeding."
Important in early game where young ivories can easily bleed your character to death or for a mutant who has Hemophilia defect. It also has some late uses in Bethesda Susa where lurking beths can be a bit problematic.
It is the only known item that goes into the [Meds] category in the inventory. It also doesn't weight anything so gather and stack them to your hearts content.