Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs). Its structure allows for the formation of active metabolites that contribute to anti-inflammatory and analgesic effects. Commonly employed in research settings for developing new drug candidates due to its functional groups that enable further chemical modifications. Also utilized in the preparation of chiral compounds through asymmetric synthesis, making it valuable in medicinal chemistry for creating enantiomerically pure substances.