Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents and cardiovascular drugs. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex molecules. Commonly employed in the preparation of chiral ligands and catalysts for asymmetric synthesis. Also utilized in research settings to design enzyme inhibitors and receptor modulators due to its rigid cyclic framework and favorable stereochemical properties.