Used in the synthesis of pharmaceutical compounds, particularly in the production of anti-inflammatory and analgesic drugs. It serves as a key intermediate in the development of active pharmaceutical ingredients (APIs) for treating conditions like arthritis and chronic pain. Additionally, it is employed in organic synthesis to create complex molecules for research and development in medicinal chemistry. Its hydroxyl and carboxylic acid functional groups make it versatile for various chemical reactions, including esterification and amidation, which are crucial in drug design and manufacturing.