Amphotericin B is one of the most expensive bulk APIs ChemAnalyst tracks, and one of the most stable. ChemAnalyst's amphotericin B price index shows Q2 2026 averages of about USD 651,897/MT in the US, USD 651,667/MT in China and USD 651,810/MT in Germany. The three regions are within USD 230/MT of each other, and each moved less than 1% over the past year. For hospital pharmacies and injectable formulators, the price is rarely the problem. Getting supply is.
Key numbers
- United States, Q2 2026: about USD 651,897/MT, up 0.27% quarter-over-quarter
- China, Q2 2026: about USD 651,667/MT FOB Shanghai, up 0.26%
- Germany, Q2 2026: about USD 651,810/MT CFR Hamburg, up 0.26%
- India, Q2 2026: index up 1.97%, on delayed imports
- June 2026: China USD 645,000/MT, Germany USD 645,180/MT, US USD 645,290/MT
- One year earlier (Q3 2025): about USD 645,802/MT in the US
Why is the price so stable?
Three things explain it.
- Hospital demand changes very little. Amphotericin B treats severe fungal infections, and hospitals buy it through tenders and contracts. ChemAnalyst describes hospital demand as price-inelastic, with tenders keeping consumption steady.
- Production is concentrated. The API is made by fermentation using pharmaceutical-grade glucose and soybean peptone, followed by sterile processing and freeze-drying. Only a few qualified producers make it, and they price in a disciplined way.
- Logistics move the price more than input costs. Over the past year, most of the small quarterly changes came from freight, cold-chain air transport, sterile vials and compliance costs, rather than from fermentation inputs.
What drove the small moves
The individual drivers show where supply risk sits.
- Q4 2025: Indian exporters limited shipments after sterility re-tests reduced volumes, and cold-chain air freight stayed expensive even as ocean rates fell.
- Q1 2026: stricter environmental inspections in China limited smaller producers' output and pushed orders toward higher-priced integrated manufacturers.
- Q2 2026: importers had built stock in April, and the rupee weakened while Indian exports resumed, which let exporters cut their dollar offers. In Germany, imports from Italy, Denmark, Spain and India eased shortages.
June prices in all three regions were about 1% below the Q2 averages, so the quarter ended slightly softer.
Liposomal formulations are changing demand
ChemAnalyst notes hospitals gradually moving toward liposomal forms. In Germany, liposomal alternatives are limiting volume growth for the conventional product. For buyers of the conventional API, slower volume growth means less competition for supply. For liposomal buyers, cost and supply depend more on the formulation than on the API.
What buyers should do before the next contract
- Buy for supply security, not price. With prices moving less than 1% a quarter, the real risks are a failed batch, a sterility re-test or a delayed air shipment. Qualify at least two sources.
- Allow for cold-chain lead times. Longer lead times for temperature-controlled air freight have tightened prompt availability more than once. Order with that delay in mind.
- Check the regulatory grade. ChemAnalyst's benchmark is Pharma EP grade with a 2 kg contract size. Make sure EU GMP and pharmacopoeia testing is included in any landed-cost comparison.
Outlook
ChemAnalyst expects modest short-term variation from freight volatility and disciplined supplier pricing in the US. It expects a modest recovery later in the year in China as export restocking and seasonal buying pick up, and mild volatility in Germany. Without a supply disruption, prices are likely to stay in their narrow range.
Track regional amphotericin B prices and forecasts on the ChemAnalyst amphotericin B price page.
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