Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a prodrug carrier, enhancing the delivery and bioavailability of active drug components. Its structure allows for controlled release of the parent compound, improving therapeutic efficacy and reducing gastrointestinal side effects commonly associated with NSAIDs. Also utilized in research for developing targeted drug delivery systems due to its stability and biocompatibility.