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Schering-Plough Reports Financial Results for First Quarter of 2008
Date:4/23/2008

,975 56%

50 percent of cholesterol joint

venture net sales b/ 607 575 6%

Adjusted net sales b/ $5,264 $3,550 48%

a/ Net sales for the three months ended March 31, 2008 include sales from

Organon BioSciences (OBS), which was acquired on November 19, 2007.

b/ Total net sales of the cholesterol joint venture for both the three

months ended March 31, 2008 and 2007 were $1.2 billion.

NOTE: Adjusted net sales, defined as net sales plus an assumed 50 percent of global cholesterol joint venture net sales, is a non-U.S. GAAP measure used by management in evaluating the performance of Schering-Plough's overall business. Schering-Plough believes that this performance measure contributes to a more complete understanding by investors of the overall results of the company. Schering-Plough provides this information to supplement the reader's understanding of the importance to the company of its share of results from the operations of the cholesterol joint venture. Net sales (excluding the cholesterol joint venture net sales) is required to be presented under U.S. GAAP. The cholesterol joint venture's net sales are included as a component of income from operations in the calculation of Schering-Plough's "Equity income." Net sales of the cholesterol joint venture do not include net sales of cholesterol products in non-joint venture territories.


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SOURCE Schering-Plough Corporation
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