Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure allows for functional group transformations, making it valuable in constructing complex molecules. Commonly employed in the synthesis of steroids, anti-inflammatory agents, and other bioactive compounds. The ketone and ester groups enable reactions such as reductions, alkylations, and condensations, facilitating the development of new chemical entities in drug discovery. Also utilized in the production of fragrances and flavoring agents due to its cyclic ester framework.