Used as an intermediate in the synthesis of β-blockers, particularly in the production of chiral pharmaceuticals. Its stereochemistry allows for selective formation of active enantiomers in drugs targeting cardiovascular conditions. Commonly employed in the preparation of propranolol and similar compounds where the (S)-enantiomer exhibits desired adrenergic receptor blocking activity. The acetyloxy and chloro functional groups facilitate key coupling and deprotection steps in multi-step organic syntheses.