Used primarily as an intermediate in the synthesis of beta-adrenergic blocking agents, particularly in the production of pharmaceuticals with cardiovascular applications. Its structure supports the development of compounds that regulate heart rate and blood pressure by inhibiting adrenaline activity. Commonly employed in research and development of cardioselective beta-blockers due to its lipophilic properties and ability to cross cell membranes efficiently. Also utilized in the preparation of chiral building blocks for asymmetric synthesis in medicinal chemistry.