Used as a chiral building block in the synthesis of pharmaceuticals and fine chemicals. Its enantiomerically pure form makes it valuable for producing optically active compounds, particularly in the development of antibiotics, antifungals, and cholesterol-lowering agents like statins. Commonly employed in asymmetric synthesis to introduce hydroxy ester functionality with high stereocontrol. Also utilized in the preparation of biodegradable polymers and as an intermediate in flavor and fragrance manufacturing due to its ability to form lactones.