Used as a key intermediate in the synthesis of statin-class cholesterol-lowering drugs, particularly in the production of atorvastatin and rosuvastatin. Its chiral hydroxy ester structure allows for selective transformations in multi-step pharmaceutical syntheses. Commonly employed in asymmetric synthesis to introduce the hydroxybutanoate side chain with high enantiomeric purity. Also utilized in the preparation of beta-hydroxy esters for fine chemicals and active pharmaceutical ingredients (APIs). Its functional groups enable further modifications such as oxidation, reduction, and coupling reactions in drug development.