Used as an intermediate in the synthesis of certain pharmaceuticals, particularly in the development of beta-blocker class drugs. Its structure supports the creation of compounds with cardiovascular activity, such as those used to manage hypertension, arrhythmias, and other heart-related conditions. The presence of amino and hydroxyl groups allows for further chemical modifications, making it valuable in medicinal chemistry for optimizing drug efficacy and selectivity. It is primarily utilized in research and development stages within the pharmaceutical industry.