This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting cardiovascular diseases, particularly those involved in cholesterol management. Its structural properties make it valuable in creating complex molecules that exhibit high efficacy and specificity in therapeutic applications. Additionally, it is employed in organic synthesis to produce chiral compounds, which are essential in the manufacture of enantiomerically pure drugs, ensuring better pharmacological activity and reduced side effects.