Used in the synthesis of pharmaceutical intermediates, particularly in the development of cardiovascular drugs. Its structure supports the creation of bioactive molecules due to the presence of reactive functional groups like the acetyl and ester moieties. Commonly employed in research settings for constructing complex heterocyclic systems found in active pharmaceutical ingredients. Also utilized in the preparation of photolabile protecting groups in organic synthesis, enabling controlled release mechanisms in drug delivery systems. Shows potential in agrochemical research for designing novel plant growth regulators.