Used as a chiral building block in the synthesis of pharmaceuticals, particularly in the production of enantiomerically pure drugs. It serves as an intermediate in the development of compounds with potential therapeutic applications, such as β-blockers and other cardiovascular agents. Its chiral nature allows for the creation of molecules with specific biological activity, enhancing drug efficacy and reducing side effects. Additionally, it is employed in asymmetric synthesis to achieve high stereoselectivity in chemical reactions. The compound is also utilized in research to study enzyme interactions and receptor binding mechanisms due to its structural similarity to biologically active molecules.