SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

GINGERELLA DOUGLAS F

(Last)

(First)

(Middle)

SCHERING-PLOUGH CORPORATION

2000 GALLOPING HILL ROAD

(Street)

KENILWORTH

07033

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/01/2004

3. Issuer Name and Ticker or Trading Symbol
SCHERING PLOUGH CORP [ SGP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President and Controller

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	14,354	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Deferred Stock Unit Award	⁽¹⁾	⁽²⁾	Common Shares	25,400	$0.00⁽³⁾	D
Option (right to buy)	⁽⁴⁾	02/22/2008	Common Shares	11,200	$38.13	D
Option (right to buy)	⁽⁴⁾	02/21/2009	Common Shares	7,800	$53.06	D
Option (right to buy)	⁽⁴⁾	02/21/2010	Common Shares	13,400	$37.75	D
Option (right to buy)	⁽⁵⁾	09/24/2010	Common Shares	70,000	$45.04	D
Option (right to buy)	⁽⁴⁾	02/25/2011	Common Shares	20,200	$40.05	D
Option (right to buy)	⁽⁴⁾	02/24/2012	Common Shares	20,200	$34.68	D
Option (right to buy)	⁽⁶⁾	02/23/2013	Common Shares	10,900	$17.85	D
Option (right to buy)	02/25/2004	02/23/2013	Common Shares	20,200	$17.85	D
Option (Right to Buy)	⁽⁷⁾	02/22/2014	Common Shares	35,000	$18.2	D
Phantom Stock Units	⁽⁸⁾	⁽⁸⁾	Common Shares	16,444.01⁽⁹⁾	$0.00⁽¹⁰⁾	D

Explanation of Responses:

1. Granted under the Stock Incentive Plans. 16,400 of theses awards vest and are distributed in twenty-percent increments from 2005 to 2008, in accordance with the Plans. The remaining 9,000 vest and are 100% distributable on February 23, 2007.

2. Not Applicable.

3. Not Applicable.

4. These options are currently exercisable.

5. Options were granted on September 25, 2000 and are exercisable in one-third increments on September 26 of each 2003, 2004 and 2005.

6. Options were granted on February 24, 2003 and are exercisable in one-third increments on February 25 of each 2004, 2005 and 2006.

7. Granted under the Schering-Plough Corporation 2002 Stock Incentive Plan, exercisable in one-third increments on February 24 of each 2005, 2006 and 2007.

8. Grant under the Long-Term Performance Share Unit Incentive Plan. Vested shares of phantom stock become payable in cash upon the reporting person's termination of service as an employee of the Issuer.

9. Includes 105.01 shares acquired pursuant to a dividend reinvestment feature of the Long-Term Performance Share Unit Incentive Plan, through May 26, 2004. Vested shares of phantom stock become payable in cash upon the reporting person's termination of service as an employee of the Issuer.

10. 1 for 1

Remarks:

	/s/ Gingerella, Douglas J.	06/07/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.