Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a key building block in the preparation of phenylalkanoic acid derivatives, which exhibit analgesic and antipyretic properties. Its structure allows for selective chemical modifications, making it valuable in medicinal chemistry for developing compounds with improved bioavailability and reduced side effects. Also employed in research settings for exploring new drug candidates targeting inflammation and pain pathways.