Used as a chiral building block in the synthesis of pharmaceuticals, particularly in the production of beta-blockers and other cardiovascular drugs. Its hydroxyl and ether functional groups allow for selective chemical modifications, making it valuable in asymmetric synthesis. Commonly employed in the development of active pharmaceutical ingredients (APIs) where stereochemistry plays a critical role in drug efficacy and safety. Also utilized in the preparation of intermediates for neuroprotective agents and enzyme inhibitors.