Used in the synthesis of pharmaceutical intermediates, particularly in the development of anti-inflammatory and neuroprotective agents. It serves as a building block in organic synthesis due to its bifunctional structure, enabling the formation of amide and ester derivatives. Also employed in the preparation of prodrugs, where its carboxylic acid group facilitates improved bioavailability and controlled release. Additionally, it finds use in research related to metabolic pathways and enzyme inhibition studies.