Used as a key intermediate in the synthesis of fluorinated pharmaceuticals, particularly in the production of certain antidiabetic and antihypertensive agents. Its structure allows for selective functionalization, making it valuable in building chiral molecules for drug development. Commonly employed in asymmetric synthesis due to the presence of both hydroxyl and nitrile groups, which can be further transformed into esters, acids, or amines. Also utilized in the preparation of biologically active compounds where fluorine substitution enhances metabolic stability and binding affinity.