Used in pharmaceutical formulations as a prodrug to improve the delivery and absorption of cholesterol-modulating agents. Enhances lipid solubility, allowing better membrane permeability. Employed in research settings to study cholesterol metabolism and esterification processes in cells. Also utilized in dermatological preparations for its emollient properties, helping to restore skin barrier function in dry or damaged skin. Shows potential in controlled release systems due to its slow hydrolysis rate in biological environments.