Used as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs), particularly in the production of profen-class pharmaceuticals. Its structure allows for effective modulation of cyclooxygenase (COX) enzyme activity, contributing to anti-inflammatory, analgesic, and antipyretic effects. Commonly employed in research and development for new derivatives with improved pharmacokinetic profiles. Also utilized in the preparation of esters and amides for prodrug formulations to enhance bioavailability and reduce gastrointestinal side effects.