From Compendium of Worldly Lore
Master Alchemists are potion brewing machines, they eventually get the capability to brew potions of the highest level spells (2nd highest if you are counting epic level spells). Normally you can't get anywhere close to that. It gives you a bunch of magical opportunities. This class is definitely good for classes that lack another wizard so that these potions can be popped by anyone at anytime even in the thick of battle.
Role: Spell Utility
Characteristics: A caster skilled in alchemy and brewing potions
Source: Magic of Faerun
Game Rule Information
The Master Alchemist has the following game statistics.
Abilities: Intelligence for skills and spellcasting, Dexterity and Constitution for keeping your alchemist kicking.
Alignment: Any
Hit Die: d4
Starting Gold: N/A
Class Skills
The Master Alchemist's class skills are Alchemy (Int), Concentration (Con), Craft (Int), Knowledge (arcana) (Int), Listen (Wis), Profession (Wis), Scry (Int), Search (Int), Spellcraft (Int), and Spot (Wis)
Skill Points at 1st Level: (2 + Int modifier) × 4
Skill Points at Each Additional Level: 2 + Int modifier
Class Features
All of the following are class features of the Master Alchemist.
Weapon and Armor Proficiency: A Master Alchemist is proficient with whatever they were already proficient with.
Spells per Day: A master alchemist's training focuses on magic. Thus, when a character gains a new level of master alchemist, she gains new spells per day as if she had also gained a level in whatever spellcasting class she belonged to before she added the prestige class. She does not, however, gain any other benefit a character of that class would have gained (improved chance of controlling or rebuking undead, metamagic or item creation feats, and so on).
If a character had more than one spellcasting class before she became a master alchemist, she must decide to which class she adds each level of master alchemist for purposes of determining spells per day when she adds the new level.
Brew 2/day: The master alchemist has perfected the art of brewing potions. As such, she can brew two potions (totaling no more than 1,000 gp market value) in one day (an 8-hour period) instead of one.
Brew Potion (4th): Beginning at 2nd level, the master alchemist's advanced study of alchemy and magic allows her to brew potions of 4th-level spells. The market price of such a potion is equal to 50 gp per spell level times the level of the caster.
Brew Potion (5th): As Brew Potion (4th), except that the master alchemist can brew potions of 5th-level spells.
Brew Potion (6th): As Brew Potion (4th), except that the master alchemist can brew potions of 6th-level spells.
Brew 3/day: As Brew 2/day, except that the master alchemist may brew three potions in one day.
Improved Identification Ex: Beginning at 6th level, the master alchemist is so sure in her knowledge that she may use her Alchemy skill to identify potions and other such substances more quickly and simply than others. This master alchemist needs no alchemical equipment, spends no gp, and requires only 1 minute to identify such a sub-stance. Add +10 to the normal DC required for identification. The master alchemist can't retry this improved identification (which means she can't take 20); if this identification fails, the master alchemist must use the normal identification rules as described under the Alchemy skill.
Brew Potion (7th): As Brew Potion (4th), except that the master alchemist can brew potions of 7th-level spells.
Brew Potion (8th): As Brew Potion (4th), except that the master alchemist can brew potions of 8th-level spells.
Brew 4/day: As Brew 2/day, except that the master alchemist may brew four potions in one day.
Brew Potion (9th): As Brew Potion (4th), except that the master alchemist can brew potions of 9th-level spells.