Used in the synthesis of pharmaceutical intermediates, particularly in the development of anti-inflammatory and analgesic drugs. It serves as a building block in organic synthesis due to the presence of both carboxylic acid and ether functional groups, enabling coupling reactions and derivatization. Commonly employed in the preparation of protected hydroxyphenylacetic acid derivatives, which are key structures in beta-blockers and other cardiovascular medications. Also utilized in research settings for modifying peptide structures and enhancing metabolic stability in drug design.