Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of angiotensin II receptor antagonists like candesartan and related antihypertensive drugs. Its structure allows for the introduction of cyanophenyl and ester functionalities, which are critical in building the active pharmaceutical ingredient. The hydroxy ester group enables further chemical modifications, making it valuable in multi-step organic syntheses. Commonly employed in research and development settings for drug discovery and process optimization in cardiovascular medicine.