Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of anticoagulant drugs and beta-lactam antibiotics. It serves as a chiral building block in asymmetric synthesis, enabling the development of enantiomerically pure compounds. Its cyclic structure and functional groups make it valuable in medicinal chemistry for modifying drug potency and metabolic stability. Also employed in the preparation of specialty polymers and agrochemicals due to its reactivity and structural properties.