It does one of the penultimate bosses flinches when it's used.
Also
@De3ta a trick to fighting the Blood Starved Beast is the fact that unlike every other boss the Pungent Blood Cocktails work on him, which can be used to buy yourself some breathing room or get in a few cheap shots. Also as I stated earlier the best way to dodge it's charge attack is to dodge towards it and for it's regular attacks it's a good idea to dodge left (and in general try to keep in it's left) also you can stagger it when it raises one of it's arms to attack, I can't remember which but I think it's the left one.