Used as a chiral intermediate in the synthesis of pharmaceuticals, particularly in the development of radiolabeled compounds for medical imaging. The iodine substituent allows for easy incorporation of radioactive iodine isotopes, making it valuable in creating tracers for positron emission tomography (PET) or single-photon emission computed tomography (SPECT). Its chiral center enables selective interactions in biological systems, enhancing the specificity of target molecules in drug design. Also employed in asymmetric synthesis to introduce chirality in more complex bioactive molecules.