Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for the introduction of both chloro and trifluoromethyl functional groups, which can enhance metabolic stability and binding affinity in drug candidates. Commonly employed in research and development for optimizing lead compounds in medicinal chemistry. Also utilized in the preparation of chiral building blocks due to the presence of an acetic acid moiety that can undergo stereoselective transformations.