Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of beta-hydroxy ester derivatives which serve as building blocks for drugs such as cholesterol-lowering agents (statins). Its functional groups—bromine and hydroxyl—allow for selective chemical modifications, enabling the construction of complex molecular structures. Commonly employed in asymmetric synthesis to introduce chiral centers, it plays a role in the development of biologically active compounds, including antiviral and anti-inflammatory agents. Also utilized in the preparation of prodrugs due to the ester moiety, which can improve bioavailability.