Used as a key intermediate in the synthesis of angiotensin II receptor antagonists, particularly in the production of antihypertensive drugs like telmisartan. Its structure allows for the formation of biaryl systems that are essential for receptor binding and biological activity. Commonly employed in pharmaceutical research and development to design potent, long-acting blood pressure medications. Also utilized in organic synthesis for constructing complex aromatic frameworks due to its functional groups, which enable further chemical modifications.