Used primarily as a synthetic intermediate in the production of nonsteroidal anti-inflammatory drugs (NSAIDs), particularly in the synthesis of indomethacin and its derivatives. Its structure allows for selective modification to enhance pharmacokinetic properties such as bioavailability and metabolic stability. Commonly employed in medicinal chemistry research to develop analogs with improved efficacy and reduced gastrointestinal side effects. Also utilized in the preparation of prodrugs aimed at targeted delivery and controlled release. Its ester functionality facilitates easier membrane permeability, making it valuable in early-stage drug development and screening.