Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of protease inhibitors and kinase inhibitors. Its structure allows for selective modification in drug design, making it valuable in creating bioactive molecules with improved stability and binding affinity. Commonly employed in solid-phase peptide synthesis and medicinal chemistry research for introducing functionalized benzyl groups. Also utilized in the preparation of labeled compounds for metabolic studies and assay development due to its compatibility with various coupling reagents and protecting group strategies.