Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of certain vasodilators and cardiovascular drugs. It plays an important role in the preparation of verapamil-like compounds, which are calcium channel blockers used to treat hypertension, angina, and arrhythmias. The compound's structure allows for efficient derivatization, making it valuable in medicinal chemistry for building chiral molecules with biological activity. It is also employed in research settings for developing new bioactive molecules and optimizing drug candidates.