Used as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs), particularly in the production of felbinac and related compounds. It plays a key role in pharmaceutical development due to its ability to serve as a building block for biphenyl-based active pharmaceutical ingredients. Also employed in research for developing new anti-inflammatory and analgesic agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for optimizing drug potency and selectivity.