Exhibit 12

SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	2006		2005			2004			2003			2002
	(Dollars in millions)
Income/(Loss) Before Income Taxes	$	1,483	$	497		$	(168	)	$	(46	)	$	2,563
Less: Equity Income		1,459		873			347			54			—
(Loss)/Income Before Income Taxes and Equity Income		24		(376	)		(515	)		(100	)		2,563
Add Fixed Charges:
Preference Dividends		86		86			34			—			—
Interest Expense		172		163			168			81			28
One-third of Rental Expense		39		37			30			30			27
Capitalized Interest		13		14			20			11			24
Total Fixed Charges		310		300			252			122			79
Less: Capitalized Interest		13		14			20			11			24
Less: Preference Dividends		86		86			34			—			—
Add: Amortization of Capitalized Interest		10		10			9			9			8
Add: Distributed Income of Equity Investees		1,332		647			228			32			—
Earnings/(Loss) Before Income Taxes and Fixed Charges (other than Capitalized Interest)	$	1,577	$	481		$	(80	)	$	52		$	2,626
Ratio of Earnings to Fixed Charges		5.1		1.6			(0.3	)*		0.4	**		33.2

*	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 (loss)/income 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.