Used as a key intermediate in the synthesis of antidiabetic drugs, particularly in the production of SGLT2 inhibitors like canagliflozin. Its structure allows for the formation of cyclopropane-containing motifs that are critical for biological activity in this class of pharmaceuticals. The carboxylic and ester functional groups enable further chemical modifications, making it valuable in medicinal chemistry for building complex molecules. Commonly employed in coupling reactions to attach aromatic and sugar moieties during drug development.