This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of anti-inflammatory and analgesic drugs. Its structure allows it to serve as a precursor in the production of active pharmaceutical ingredients (APIs) that target pain and inflammation pathways. Additionally, it is employed in organic synthesis for creating complex molecules with potential therapeutic applications. Its acetoxy group makes it a versatile building block in medicinal chemistry, enabling modifications that enhance drug efficacy and bioavailability. Research also explores its role in developing novel compounds for treating chronic inflammatory conditions.