Used in the synthesis of pharmaceutical intermediates, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a key building block in organic reactions due to its functional ester and acetyl groups, enabling selective transformations in multi-step syntheses. Its structure allows for easy modification, making it valuable in creating complex aromatic compounds for drug research. Also employed in the preparation of specialty chemicals and fine intermediates where controlled acylation and esterification are required.