Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block in the formation of substituted malonic acid derivatives, which are valuable in drug development. Commonly employed in carbonyl alkylation reactions due to its active methylene group, allowing for carbon-chain extension. Frequently utilized in the synthesis of heterocyclic compounds and prodrugs, where the benzyl and ethyl ester groups can be selectively removed or modified. Its stability and reactivity make it suitable for use in multi-step synthetic routes, especially in the development of central nervous system agents and anti-inflammatory compounds.