Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system agents and analgesics. Its structure allows for easy modification to form amide or substituted amine derivatives, making it valuable in medicinal chemistry for creating bioactive molecules. Commonly employed in the preparation of receptor ligands and drug candidates targeting neurological disorders. Also utilized in the manufacture of specialty chemicals where a benzoate ester with an aminoalkyl side chain is required.