Merck & Co. (MRK) 8-K Financial statements and exhibits

Exhibit 99.1

Schering-Plough Product Pipeline
Worldwide Prescription Products
Schering-Plough Corporation
2000 Galloping Hill Road	August 2004
Kenilworth, NJ 07033-0530

	Phase II
	Adenosine 2a Receptor Antagonist
	Parkinson’s Disease
4	CCR5 Receptor Antagonist
	HIV Infection
	SARASAR
	Leukemia
	Variety of Solid Tumors
	TEMODAR
	Variety of Tumors

	Phase III
	CLARINEX-D 12 Hour Seasonal Allergic Rhinitis
	CLARITIN/Singulair2 Seasonal Allergic Rhinitis
4	Garenoxacin Variety of Gram-Positive/Gram-Negative Bacterial Infections
	INTEGRILIN
4	Early Acute Coronary Syndrome
	NASONEX
4	Rhinosinusitis
	PEG-INTRON Malignant Melanoma
	Posaconazole
4	Prophylaxis
	REMICADE1 Psoriasis Ulcerative Colitis
	TEMODAR
4	First-Line Glioblastoma Multiforme

	NDA/BLA/PLA/HRD Filed
	ASMANEX (DPI) Asthma
4	Chronic Obstructive Pulmonary Disease (COPD)
4	CLARINEX-D 24 Hour Seasonal Allergic Rhinitis
	CLARINEX Syrup Chronic Urticaria Seasonal Allergic Rhinitis
	NASONEX
4	Polyposis
4	Posaconazole Serious Fungal Infections
	REMICADE1
4	Psoriatic Arthritis

4 Phase advance     4 Indication advance     ¹ International rights only     ² J.V. with Merck      

Product Name	Market Size	Indications	U.S. Status	International Status
Adenosine 2a Receptor Antagonist Oral formulation	Prevalence in major world markets – 1.3 million Global market – $2.0 billion	Treatment of Parkinson’s disease	Phase II	Phase II
ASMANEX Anti-inflammatory steroid Oral inhaler	Oral inhaled steroid market: U.S. market – $1.0 billion Int’l market – $1.9 billion	Dry powder inhaler (DPI) – Asthma – COPD	Approvable 10/99 Phase III	Launched in UK 1/03 Filed in EU
CCR5 Receptor Antagonist Oral formulation	Market projections premature	Treatment of HIV infection	Phase II	Phase II
CLARINEX Nonsedating antihistamine Oral formulation	Oral antihistamine market: U.S. market – $4.6 billion Int’l market – $2.5 billion	Treatment of allergies: – CLARINEX Syrup – CLARINEX-D 24 Hour – CLARINEX-D 12 Hour	Approvable 10/01 NDA filed 4/04 Phase III	HRD approved 4/02 Filing not planned Phase III
CLARITIN/Singulair Nonsedating antihistamine leukotriene inhibitor Oral formulation	U.S. allergy market – $6.9 billion	Dual-action approach to treating allergies – Seasonal allergic rhinitis	J.V. with MRK   Phase III/Evaluating clinical program	U.S. only
Garenoxacin Quinolone antibiotic Oral, injectable formulations	Worldwide antibiotic market – $25.5 billion	Treatment of a variety of gram-positive/gram-negative bacterial infections	Phase III	Phase III
INTEGRILIN Glycoprotein IIb/IIIa platelet aggregation inhibitor Injectable formulation	Total U.S. patients with ACS – 550 million	Treatment of early acute coronary syndrome (ACS)	Phase III	Primarily U.S. rights

Product Name	Market Size	Indications	U.S. Status	International Status
NASONEX Anti-inflammatory steroid Nasal inhaler	Nasal inhaled steroid market: U.S. market – $2.3 billion Int’l market – $726 million	Treatment of allergies: – Polyposis – Rhinosinusitis	NDA filed 2/04 Phase III	Phase III Phase III
PEG-INTRON Long-acting antiviral/biological response modifier Injectable formulation	Worldwide interferon market – in excess of $1 billion	Cancer indications: – Malignant melanoma	Phase III	Phase III
Posaconazole Triazole antifungal Oral formulation	Worldwide antifungal market – in excess of $4.0 billion	– Treatment of serious fungal infections – Prophylactic treatment of serious fungal infections	NDA filed 5/04   Phase III	Filed in EU   Phase III
REMICADE Monoclonal antibody Injectable formulation	Prevalence in int’l markets: Rheumatoid arthritis – 4 million Psoriasis – 6.3 million Psoriatic arthritis – 650,000 Ulcerative colitis – 200,000	Treatment of inflammatory diseases: – Psoriatic arthritis – Psoriasis – Ulcerative colitis	International only	CHMP recomm. app. 7/04 Phase III Phase III
SARASAR Farnesyl transferase inhibitor Oral formulation	Market projections premature	Treatment of cancer: – Leukemia – Variety of solid tumors	Phase II Phase II	Phase II Phase II
TEMODAR Cytotoxic chemotherapeutic agent Oral formulation	Alkylating agent market: U.S. market – $192 million Int’l market – $141 million	– First-line glioblastoma multiforme – Treatment of a variety of tumors	Phase III    Early Phase	Phase III    Early Phase

Pipeline Updates / August 2004

Phase II
Pure Anti-Estrogen

In light of changing research and development priorities, a decision was made to seek outside partners for the future development of a pure anti-estrogen. Post-menopausal studies in Phase II had been on hold pending the outcome of FDA guidance on hormone replacement therapy products. This agent will no longer appear on the company’sProduct Pipeline.

CCR5 Receptor Antagonistfor HIV infection has advanced to Phase II on theProduct Pipeline.

Phase III
ASMANEX (MDI)

Development of the ASMANEX MDI formulation in Phase III has been discontinued. This formulation will no longer appear on the company’sProduct Pipeline.

Garenoxacin

In June, Schering-Plough signed a definitive license agreement with Toyama Chemical Co. Ltd. for garenoxacin, Toyama’s proprietary quinolone antibacterial agent in late-stage development. As previously disclosed, the company is proceeding with its review of the product dossier and implementation of technology transfer steps, and expects to be in a position to file a U.S. NDA by late 2005.

The following compounds or indications have advanced to Phase III on theProduct Pipeline:INTEGRILINfor early acute coronary syndrome,Posaconazolefor prophylactic treatment of serious fungal infections andTEMODARfor first-line glioblastoma multiforme.

NDA/HRD Filed

U.S. regulatory submissions have been accepted as filed for the following compounds:CLARINEX-D 24 Hourfor seasonal allergic rhinitis,NASONEXfor polyposis andPosaconazolefor serious fungal infections.

International regulatory submissions have been accepted as filed for the following compounds:REMICADEfor psoriatic arthritis,ASMANEX DPIfor COPD andPosaconazolefor serious fungal infections.

Note:

As part of the current Phase II program for theAdenosine 2a Receptor Antagonistin Parkinson’s disease, the company is reviewing several back up compounds to determine whether they offer a better profile than the original compound.

CLARINEX-D 12 Houris listed in Phase III on theProduct Pipeline. As previously reported, based on an analysis of an October 2001 “approvable” letter, SGP has determined that it intends to reformulate the product and seek approval for a new version with improved stability.

Recent Approvals

VYTORIN² (ezetimibe/simvastatin)
Cholesterol lowering [U.S. 7/04, Germany, Mexico 4/04]

REMICADE¹
Early rheumatoid arthritis [EU 6/04]

REMICADE¹
Maintenance of fistulizing Crohn’s disease [EU 10/03]

PEG-INTRON REDIPEN
Hepatitis C [U.S. 10/03]

REBETOLoral solution
Pediatric use [U.S. 7/03]

REMICADE¹
Ankylosing spondylitis [EU 5/03]

CAELYX¹
Metastatic breast cancer [EU 1/03]

¹ International rights only      ² J.V. with Merck

The SGPProduct Pipelineis solely intended to provide to investors general information regarding Schering-Plough products in development and, for this reason, the information is not represented to be complete. Due to market factors and the nature of the development and approval process, the information – including the status of these products – is subject to change.

“International Status” does not necessarily imply that the company will be marketing the compound in all major countries.

The trademarks indicated by CAPITAL LETTERS are the property of, licensed to, promoted or distributed by Schering-Plough, its subsidiaries or related companies.