Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure allows for functionalization at multiple sites, making it valuable in constructing complex molecules. Commonly employed in the synthesis of local anesthetics and anti-inflammatory agents due to the presence of the benzyl and ester groups that can be selectively modified. Also utilized in the development of prodrugs, where the ester moieties improve bioavailability and control release of active compounds. Its malonate core is useful in carbon chain extension reactions and as a building block in heterocyclic synthesis.