Used primarily as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs), particularly in the production of profen-class medications. Its structure allows for chiral synthesis, making it valuable in creating enantiomerically pure active pharmaceutical ingredients. It is also employed in the development of derivatives for medicinal chemistry research, especially in studies related to COX enzyme inhibition. Additionally, it serves as a building block in organic synthesis for creating complex aromatic and anti-inflammatory compounds.