Used primarily as an intermediate in the synthesis of non-steroidal anti-inflammatory drugs (NSAIDs), particularly in the production of loxoprofen and related prodrugs. Its structure allows for functional group modifications that are key in developing active pharmaceutical ingredients with improved bioavailability and targeted activity. The nitro group facilitates reduction to an amine, enabling further derivatization, while the hydroxyl group can be used for esterification or ether formation. It is also employed in research settings for developing biphenyl-based compounds with potential biological activity.