An Iridium(III)‐catalyzed C−H cyclization of N‐arylphthalazinones with α‐diazotized Meldrum's acid afforded tetracyclic phthalazine derivatives with a carbonyl group in 98% yield in only 30 min. The initial formation of tetracyclic phthalazine derivatives also provided access to a powerful building block. The utility of this method is emphasized by the synthetic transformation into a series of potentially bioactive derivatives.
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