Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents and analgesics. Its structure allows for easy modification to create biologically active molecules, making it valuable in medicinal chemistry research. Commonly employed in the preparation of prodrugs due to the presence of the benzyl ester group, which can be cleaved in vivo to release the active compound. Also utilized in the production of specialty chemicals for drug delivery systems and in the design of enzyme inhibitors.