Improved Import Availability Pushes US Amphotericin B Prices Down 0.91%

Amphotericin B CFR Houston prices eased by 0.91% in May as improved import availability and subdued clinical demand weighed on the U.S. spot market. Early in the month, Amphotericin B exporters in India and Italy cleared backlogs created by earlier sterility re-validation, increasing export volumes and intensifying competition for U.S. tenders. This weakened sellers' pricing power despite transpacific freight rates rising by approximately 12.3% during mid-May. However, the high value-to-weight ratio of Amphotericin B limited the impact of higher freight costs on landed prices. By the second half of May, production resumptions and restored fill-finish operations further improved Amphotericin B supply, while wholesalers expanded inventory coverage, resulting in softer spot pricing, according to ChemAnalyst.

Demand for Amphotericin B remained uneven across end-user segments. Hospital consumption, particularly at major teaching institutions, weakened as several healthcare providers expanded the use of liposomal Amphotericin B as the preferred first-line treatment for invasive fungal infections, reducing demand for conventional formulations. Buyers participating in the federal 340B programme also delayed procurement while awaiting quarterly ceiling-price revisions, which historically improve purchasing terms by around 3–5%. Meanwhile, outpatient retail demand for Amphotericin B remained seasonally stable, with no disease outbreaks triggering emergency stockpiling. Distributor inventory increased to 4.2 weeks at the end of May from 3.9 weeks in April, further reducing spot buying activity and placing mild downward pressure on offers.

On the supply side, production economics became more favourable for Amphotericin B manufacturers. Improved fermentation feedstock availability following recent agricultural harvests lowered raw material costs, while pharmaceutical-grade glucose, soybean lipid excipients, and sterile water prices remained largely stable. Producers in Ahmedabad and Hyderabad resumed full production schedules, and Italian fill-finish facilities restored operations, collectively adding nearly three tonnes of finished Amphotericin B vials to export availability. No significant manufacturing disruptions, cold-chain issues, or plant shutdowns were reported during the month, supporting steady import flows into the U.S.

Looking ahead, the Amphotericin B market is expected to remain broadly stable through late 2026. ChemAnalyst projects monthly price movements of +0.60%, +0.53%, +0.41%, -0.62%, -0.55%, and +0.37% from June through November. Healthy inventories and consistent import arrivals are expected to limit further downside. However, geopolitical shipping risks, including potential disruptions through the Strait of Hormuz that could extend transit times by 10–12 days, remain a key upside risk due to higher freight and insurance costs. In addition, seasonal monsoon-related domestic allocation by Indian producers and precautionary distributor stockpiling ahead of the humid summer season may provide modest support to Amphotericin B prices in the coming months.