Used as a key intermediate in the synthesis of non-steroidal anti-inflammatory drugs (NSAIDs), particularly in the development of COX-2 inhibitors. Its structure supports the design of compounds with selective enzyme inhibition, improving drug efficacy and reducing gastrointestinal side effects. Also employed in research for developing new analgesic and antipyretic agents. Shows potential in medicinal chemistry for modifying pharmacokinetic properties of drug candidates due to its polar functional groups and aromatic stability.