Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic acid derivatives and vitamin B3 (niacin) analogs. It serves as a building block in medicinal chemistry for developing drugs targeting neurological and metabolic disorders. Also employed in the preparation of chiral catalysts and ligands for asymmetric synthesis, contributing to the development of enantioselective reactions in drug manufacturing. Its hydroxyl and methyl functional groups allow for easy modification, making it valuable in creating diverse compound libraries for drug discovery.