This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of various therapeutic agents, especially those targeting neurological and cardiovascular disorders. Its structural features make it valuable for designing molecules that interact with specific biological targets, such as enzymes or receptors, to modulate their activity. Additionally, it is employed in the development of prodrugs, where its ester group can enhance bioavailability or stability of the active drug. Researchers also explore its potential in creating novel compounds with improved pharmacokinetic properties for treating complex diseases.