Used in the synthesis of pharmaceutical intermediates, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a building block for biphenyl-based compounds that exhibit biological activity, including anti-inflammatory and analgesic properties. Also employed in organic synthesis to introduce the biphenylacetic acid moiety, which is present in several drug molecules. Its ester functionality allows for easy modification in multi-step reactions, making it valuable in medicinal chemistry and drug design.