Used primarily as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs), particularly in the production of naproxen. Its structure allows for efficient transformation into the active pharmaceutical ingredient through selective oxidation and functional group modifications. The ethyl and methoxy groups play a key role in directing reactivity and enhancing the yield during key synthetic steps. It is valued in industrial settings for its stability and compatibility with common reagents in large-scale drug manufacturing.