Exhibit 12

SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)

	Three
	Months
	Ended
	March 31,						Years Ended December 31
	2004			2003			2002		2001		2000		1999
(Loss)/Income Before IncomeTaxes	$	(91	)	$	(46	)	$	2,563	$	2,523	$	3,188	$	2,795
Add Fixed Charges:
Interest Expense		48			81			28		40		44		29
One-third of Rental Expense		8			30			27		24		24		22
Capitalized Interest		5			11			24		25		20		12
Total Fixed Charges		61			122			79		89		88		63
Less: Capitalized Interest		5			11			24		25		20		12
Add: Amortization of Capitalized Interest		2			9			8		7		7		7
(Loss)/Earnings Before Income Taxes and Fixed Charges (other than Capitalized Interest)	$	(33	)	$	74		$	2,626	$	2,594	$	3,263	$	2,853
Ratio of Earnings to Fixed Charges		(1	)		1			33		29		37		45

“Earnings” consist of income before income taxes and fixed charges (other than capitalized interest). “Fixed charges” consist of interest expense, capitalized interest and one-third of rentals which Schering-Plough believes to be a reasonable estimate of an interest factor on leases.