Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the development of antihypertensive agents and alpha-adrenergic blockers. It serves as a key building block in the preparation of quinazoline-based drugs, which are known for their activity in cardiovascular and central nervous system therapies. Its reactive chloromethyl group allows for easy alkylation or coupling with other moieties, making it valuable in medicinal chemistry for constructing complex drug molecules. Also employed in research settings to develop new bioactive compounds and in the creation of libraries for high-throughput screening in drug discovery.