This compound is primarily utilized in the synthesis of complex organic molecules, particularly in pharmaceutical research and development. It serves as a key intermediate in the production of certain active pharmaceutical ingredients (APIs), especially those targeting cardiovascular and metabolic diseases. Its unique structure allows for selective modifications, enabling the creation of compounds with specific biological activities. Additionally, it is used in the development of prodrugs, where its ester groups can be hydrolyzed in vivo to release the active drug, improving bioavailability and therapeutic efficacy. In chemical synthesis, it is valued for its stability and reactivity, making it a versatile building block in organic chemistry.