Schering-Plough Reports Financial Results for 2009 Seco...(erance costs and $11 million for merg...)

Date:7/21/2009

erance costs and $11 million for merger costs) and $94 million ($77 million for severance costs and $17 million for integration-related costs), respectively. For the six months ended June 30, 2009 and 2008 these charges were $104 million ($74 million for severance costs and $30 million for merger costs) and $117 million ($84 million for severance costs and $33 million for integration-related costs), respectively. 3/ Included in Equity income for the three and six months ended June 30, 2008 was $64 million of income related to the termination of a respiratory joint venture with Merck. 4/ Diluted EPS for the three months ended June 30, 2009 is calculated based on net income available to common shareholders and average diluted shares - common and participating - outstanding. For the three months ended June 30, 2009, approximately 91 million common shares obtainable upon conversion of Schering-Plough's 2007 mandatory convertible preferred stock were excluded from the computation of diluted EPS because their effect would have been antidilutive. For the six months ended June 30, 2009, diluted EPS is calculated based on net income and average diluted shares - common and participating - outstanding. For the six months ended June 30, 2009, approximately 91 million common shares obtainable upon conversion of Schering-Plough's 2007 mandatory convertible preferred stock were included in the computation of diluted EPS because their effect would have been dilutive.

    SCHERING-PLOUGH CORPORATION

    Reconciliation from Reported Net Income Available to Common Shareholders
    and Reported Diluted Earnings Per Common Share to As Reconciled Amounts
    for Net Income Available to Common Shareholders and Diluted Earnings per
    Common Share
    (Amounts in Millions, except per share figures)

    To supplement its consolidated
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SOURCE  Schering-Plough Corporation
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