Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building more complex drug candidates. Commonly employed in research settings to design compounds with targeted biological activity, especially those involving aromatic and carboxylic acid moieties. Also utilized in the preparation of chiral building blocks for asymmetric synthesis.