Used as a chiral building block in the synthesis of pharmaceuticals, particularly in the development of central nervous system agents. Its enantiomeric purity makes it valuable for creating active ingredients in antidepressants and antipsychotic drugs. Also employed in the preparation of beta-adrenergic receptor ligands due to its structural similarity to phenylethylamine derivatives. Commonly utilized in asymmetric synthesis and catalysis research for developing new synthetic routes in medicinal chemistry.