Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs). It serves as a key building block in the preparation of profen-class drugs, which exhibit analgesic, antipyretic, and anti-inflammatory properties. Its structure allows for chiral synthesis, enabling the development of enantiomerically pure active pharmaceutical ingredients. Also utilized in research settings for developing novel derivatives with potential biological activity.