Used as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs), particularly in the production of ibuprofen derivatives. It serves as a key building block in organic reactions where the ester and ketone functionalities allow for further chemical modifications. Its structure enables condensation and reduction reactions, making it valuable in pharmaceutical research and development for creating active pharmaceutical ingredients. Also employed in the preparation of specialty chemicals and fine intermediates for medicinal chemistry applications.