Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of active pharmaceutical ingredients (APIs) for various therapeutic agents. It plays a role in the development of compounds with potential anti-inflammatory, analgesic, or neurological effects. Additionally, it is utilized in organic chemistry research for the preparation of complex cyclic structures, aiding in the study of reaction mechanisms and molecular design. Its ester and hydroxyl functional groups make it a versatile building block in fine chemical manufacturing.