This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of cholesterol-lowering drugs, particularly statins, which are widely used to manage hyperlipidemia and reduce the risk of cardiovascular diseases. Its chiral structure makes it valuable in producing enantiomerically pure compounds, ensuring high efficacy and reduced side effects in therapeutic applications. Additionally, it is employed in research settings for studying enzyme inhibition and metabolic pathways, contributing to advancements in drug discovery and development.