Used in the synthesis of various pharmaceuticals, particularly in the production of antiviral and anticancer drugs. It serves as a key intermediate in the development of nucleoside analogs, which are crucial for treating viral infections like HIV and hepatitis. Additionally, it is employed in organic chemistry research for constructing complex molecular structures due to its chiral properties. Its role in asymmetric synthesis makes it valuable for creating enantiomerically pure compounds, essential in drug development and fine chemical manufacturing.