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U.S. stock market report 1338 ET 1Sept2009- ------------------------------------------------------------------------------

Biovail Corp's chief executive said on Tuesday that there are alternative uses for its Parkinson's disease treatment Pimavanserin despite disappointing Phase 3 test results.

"This is still a very interesting compound and there are other alternatives in addition to the one which this trial was oriented toward and so there are a number of other things that Pimavanserin could be interesting for," Biovail CEO Bill Wells, told Reuters in an interview. "The game is not over by a long shot."

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Shares of Biovail fell 2.3 percent to $12.44 on the New York Stock Exchange.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1335 ET 1Sept2009-Bernstein says no reason to own AIG shares ------------------------------------------------------------------------------

Bernstein Research downgraded American International Group to "underperform" from "market perform", and said there is no reason for shareholders to continue owning the stock.

"AIG's current stock price gives virtually no weight to the possibility that the common equity is worth zero," the firm wrote, adding that political risk at the company remained considerable, with a very real possibility that the government would reduce support once the company was no longer deemed a systemic risk.

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Shares of AIG fell 17 percent to $37.83.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1332 ET 1Sept2009-Ford shares down after August sales data ------------------------------------------------------------------------------

Shares of Ford Motor Co fell on Tuesday, after the company reported its August sales data.

The company reported sales growth of 17 percent, helped by the government's "cash for clunkers" program.

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The stock fell 4.3 percent to $7.27.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1330 ET 1Sept2009-Panel rejects Genzyme leukemia drug study ------------------------------------------------------------------------------

Genzyme Corp should run a new study before the company can win approval to promote its Clolar leukemia drug for older patients, a U.S. advisory panel said on Tuesday.

The committee voted 9-3 to urge the Food and Drug Administration to require a new study of patients randomly assigned to Clolar or another treatment for comparison.

Genzyme has applied for wider approval of the drug, now sold for treating leukemia in children, based on a study that did not include a comparison group.

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Shares of Genzyme fell 0.9 percent to $55.19.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1255 ET 1Sept2009-US STOCKS-Wall St tumbles on worry about more bank failures ------------------------------------------------------------------------------

U.S. stocks sank on Tuesday on increasing worries that there could be more bank failures and concerns that equity prices may have run ahead of the economic economy.

The Dow Jones industrial average was down 33.32 points, or 0.35 percent, at 9,462.96. The Standard & Poor's 500 Index slipped 2.98 points, or 0.29 percent, at 1,017.64. The Nasdaq Composite Index fell 2.09 points, or 0.10 percent, at 2,006.97.

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Reuters Messaging: angela.moon.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS

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