When cash piles up

Ebb & Flow

While biotech companies are great spenders, a select few have done a good job accumulating cash, thanks to a steady flow of product/royalty revenue. Amgen (AMGN), Alza (AZA) and Genentech (GNE), for example, are three biotech companies with cash balances over $1 billion as of June 30. GNE and AMGN lead the pack, each with $1.2 billion in cash, cash equivalents and long-term investments. AZA is third with $1.02 billion...