Used as a chiral building block in the synthesis of pharmaceuticals, particularly in the production of protease inhibitors like Crixivan (indinavir), which is used to treat HIV. Its rigid indane structure and well-defined stereochemistry make it ideal for controlling stereoselectivity in drug synthesis. Also employed in asymmetric synthesis and as a ligand or intermediate in catalytic reactions. Its ability to form stable intermediates enhances efficiency in multi-step organic transformations.