Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anticoagulant and anti-inflammatory agents. Its functional groups—aldehyde, ester, and hydroxyl—allow for selective chemical modifications, making it valuable in constructing complex organic molecules. Commonly employed in medicinal chemistry for building blocks in heterocyclic compound synthesis. Also utilized in research settings for designing enzyme inhibitors due to its ability to mimic aromatic substrates in biological pathways.