Used as an intermediate in organic synthesis, particularly in the pharmaceutical industry for constructing complex molecules. Its hydroxyl and ester functional groups allow for selective reactions, making it valuable in the preparation of active pharmaceutical ingredients (APIs). Commonly employed in prodrug design, where the ester group can be hydrolyzed in vivo to release the active compound. Also utilized in the synthesis of polymers and biodegradable materials due to its ability to participate in ring-opening polymerization and other condensation reactions. Its stability and reactivity profile make it suitable for multi-step synthetic routes requiring protection and deprotection strategies.