Used primarily in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting central nervous system disorders, where its structural properties enable the creation of compounds with specific receptor-binding capabilities. Additionally, it finds application in organic synthesis, aiding in the construction of complex biphenyl derivatives that are essential in the production of fine chemicals and agrochemicals. Its hydrochloride form enhances solubility, making it more suitable for use in aqueous reaction environments.