Used as an intermediate in the synthesis of non-steroidal anti-inflammatory drugs (NSAIDs), particularly in the production of indomethacin and related compounds. It plays a key role in pharmaceutical manufacturing due to its ability to form the core structure of potent anti-inflammatory agents. The compound is also utilized in research settings for developing new analgesic and antipyretic medications. Its reactivity allows for easy modification in multi-step organic syntheses, making it valuable in medicinal chemistry.