Used in the pharmaceutical industry as a key intermediate in the synthesis of antihypertensive drugs, particularly in the production of beta-adrenergic receptor blockers. Its chiral structure makes it valuable for developing enantiomerically pure medications, improving efficacy and reducing side effects. Also investigated for potential applications in central nervous system agents due to its ability to cross the blood-brain barrier. Commonly employed in research settings for structure-activity relationship studies in cardiovascular and neurological drug development.