Schering-Plough Reports Financial Results for First Quart...(.15 $ 0.36 Average common sha...)

Average common shares outstanding - diluted 1,637 1,571

The company incurs substantial costs related to the cholesterol joint venture, such as selling, general and administrative costs, that are not reflected in the "Equity income" and are borne by the overall cost structure of Schering-Plough.

1/ Net sales for the three months ended March 31, 2008, include sales of

$1.3 billion from Organon BioSciences (OBS), which was acquired on

November 19, 2007.

2/ Cost of sales for the three months ended March 31, 2008 includes

purchase accounting adjustments of $688 million related to the

acquisition of OBS.

3/ Research and development for the three months ended March 31, 2007

includes $96 million related to upfront R&D payments.

4/ Special and acquisition-related charges for the three months ended

March 31, 2008 reflect $23 million related to the acquisition of OBS.

Special and acquisition-related charges for the three months ended

March 31, 2007 reflect $1 million related to the acquisition of OBS.

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 financial statements presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"), Schering-Plough is providing the supplemental financial information below and on the following pages to reflect "As Reconciled" amounts related to net income available to common shareholders and diluted earnings per common share. "As Reconciled" amounts exclude the effects of purchase accounting adjustments
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