Used primarily as an intermediate in the synthesis of pharmaceuticals, especially in the development of central nervous system agents. It serves as a building block in the production of certain antipsychotic and antidepressant drugs due to its ability to cross the blood-brain barrier and interact with neural receptors. Its ester functionality allows for easy modification in multi-step organic syntheses, making it valuable in medicinal chemistry for creating active pharmaceutical ingredients. Additionally, it is employed in research settings for designing novel heterocyclic compounds with potential biological activity.