Exhibit 12

SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

		Three
		Months
		Ended		Years Ended December 31
		March 31,
		2006		2005			2004			2003			2002		2001
		(Dollars in millions)
Income/(loss) before income taxes		$	436	$	497		$	(168	)	$	(46	)	$	2,563	$	2,523
Less: Equity income			311		873			347			54			—		—
Income/(loss) before income taxes and equity income			125		(376	)		(515	)		(100	)		2,563		2,523
Add: Fixed charges:
	Preference dividends		22		86			34			—			—		—
	Interest expense		46		163			168			81			28		40
	One-third of rental expense		9		37			30			30			27		24
	Capitalized interest		4		14			20			11			24		25
	Total fixed charges		81		300			252			122			79		89
Less: Capitalized interest			4		14			20			11			24		25
Less: Preference dividends			22		86			34			—			—		—
Add: Amortization of capitalized interest			2		10			9			9			8		7
Add: Distributed income of equity investees			205		647			228			32			—		—
Earnings/(loss) before income taxes and fixed charges (other than capitalized interest)		$	387	$	481		$	(80	)	$	52		$	2,626	$	2,594
Ratio of earnings to fixed charges			4.8		1.6			(0.3	)*		0.4	**		33.2		29.1

*  For the year ended December 31, 2004, earnings were insufficient to cover fixed charges by $332 million.

**  For the year ended December 31, 2003, earnings were insufficient to cover fixed charges by $70 million.

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

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