This chemical is primarily utilized in the synthesis of pharmaceutical compounds, particularly in the development of peptide-based drugs. It serves as a key intermediate in the production of chiral molecules, which are essential for creating medications with specific biological activity. Its application is significant in the field of asymmetric synthesis, where it helps in constructing complex molecular structures with high enantiomeric purity. This is crucial for drugs that require precise stereochemistry to achieve desired therapeutic effects. Additionally, it is used in research and development for exploring new drug candidates, especially in the areas of enzyme inhibitors and receptor-targeted therapies. Its role in fine chemical manufacturing also extends to the production of agrochemicals and specialty chemicals, where chiral intermediates are often required.