Used as a key intermediate in the synthesis of fibrates, a class of lipid-lowering drugs. It serves in the development of pharmaceuticals targeting hyperlipidemia and cardiovascular diseases. Its structure allows for effective interaction with metabolic enzymes involved in lipid regulation. Commonly employed in research settings for designing peroxisome proliferator-activated receptor (PPAR) agonists. Also utilized in the preparation of analog compounds to study structure-activity relationships in anti-dyslipidemic agents.