This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various therapeutic agents. It is particularly significant in the production of cholesterol-lowering drugs, such as statins, where it contributes to the structural framework essential for biological activity. Additionally, it is employed in the development of enzyme inhibitors and other bioactive molecules, playing a crucial role in medicinal chemistry research. Its stereochemistry and functional groups make it a valuable building block for creating compounds with specific pharmacological properties.