Used primarily as a key intermediate in the synthesis of fibrates, a class of lipid-lowering medications. It contributes to the development of drugs that reduce triglycerides and low-density lipoprotein (LDL) cholesterol while increasing high-density lipoprotein (HDL) cholesterol. Its structural configuration supports optimal binding to peroxisome proliferator-activated receptors (PPARs), enhancing metabolic activity. Also employed in research for designing new analogs with improved pharmacokinetic profiles.