3-Hydrazinoindazoles acylated with a carbo(lower alkoxy) group in the 3-position and further being optionally substituted in one or more of the 4-, 5-, 6- and/or 7-positions are analgesic, anti-inflammatory and antipyretic agents. The compounds, of which 3-carbomethoxyhydrazino-6-chloroindazole is a typical embodiment, are prepared through treatment of the appropriate 3-hydrazinoindazole with a derivative of carbonic acid.