Used as a chiral building block in the synthesis of pharmaceuticals, particularly in the production of protease inhibitors like HIV-1 protease inhibitors. Its rigid indanol structure and well-defined stereochemistry make it ideal for inducing chirality in drug molecules. Commonly employed in asymmetric synthesis and catalysis, it helps improve the selectivity and efficacy of active pharmaceutical ingredients. Also utilized in the development of enzyme inhibitors due to its ability to mimic transition states in peptide hydrolysis.