Used as an intermediate in the synthesis of non-steroidal anti-inflammatory drugs (NSAIDs), particularly in the production of selective COX-2 inhibitors. Its structure allows for the introduction of key pharmacophoric elements in drug molecules targeting inflammation and pain. Commonly employed in medicinal chemistry for constructing biaryl-containing compounds with improved metabolic stability and binding affinity. Also utilized in the development of analogs for structure-activity relationship (SAR) studies due to its ease of functionalization at the ester group.