Used as a key intermediate in the synthesis of angiotensin II receptor antagonists, particularly in the production of antihypertensive drugs like candesartan and related compounds. Its structure allows for the formation of biaryl moieties that are essential for receptor binding and biological activity. Commonly employed in pharmaceutical research and development for creating potent, long-acting blood pressure medications. Also utilized in the preparation of other bioactive molecules where a substituted biphenyl scaffold is required.