This compound is primarily used in the synthesis of beta-blockers, a class of drugs that are widely prescribed to manage cardiovascular conditions. It serves as a key intermediate in the production of medications that help regulate heart rate, reduce blood pressure, and alleviate symptoms of angina. Additionally, it finds application in research and development within the pharmaceutical industry, particularly in studies focused on improving the efficacy and safety of beta-adrenergic blocking agents. Its role in these processes underscores its importance in advancing treatments for heart-related ailments.