This chemical is primarily used in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting neurological and cardiovascular diseases. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs) due to its structural properties, which allow for precise modifications during drug design. Additionally, it is employed in peptide synthesis, where it acts as a protecting group for amines, ensuring selective reactions in complex molecular constructions. Its stability and compatibility with various reaction conditions make it a valuable component in medicinal chemistry research and industrial drug manufacturing processes.