Merck & Co. (MRK) 8-K Schering-plough Reports Financial Results for 2006 Third Quarter

Exhibit 99.2

SCHERING-PLOUGH CORPORATION
STATEMENTS OF CONSOLIDATED OPERATIONS
(Dollars in Millions, except EPS)
(Unaudited)

								2006																	2005
	1st			2nd			3rd			4th	6			9			Full	1st			2nd			3rd			4th			6			9			Full			3rd Qtr.			9 Mos.
	Qtr.			Qtr.			Qtr.			Qtr.	Mos.			Mos.			Year	Qtr.			Qtr.			Qtr.			Qtr.			Mos.			Mos.			Year			vs			vs
	$			$			$			$	$			$			$	$			$			$			$			$			$			$			3rd Qtr.			9 Mos.
Net sales 1/		2,551			2,818			2,574				5,369			7,944				2,369			2,532			2,284			2,324			4,900			7,184			9,508			13	%		11	%
Cost of sales 2/		893			1,004			885				1,897			2,782				889			867			775			815			1,756			2,531			3,346			14	%		10	%
Gross profit		1,658			1,814			1,689				3,472			5,162				1,480			1,665			1,509			1,509			3,144			4,653			6,162			12	%		11	%
Selling, general and administrative		1,086			1,224			1,158				2,310			3,467				1,081			1,116			1,064			1,114			2,197			3,261			4,374			9	%		6	%
Research and development 3/		481			539			536				1,020			1,557				384			442			566			474			825			1,391			1,865			(5	%)		12	%
Other (income)/expense, net		(34	)		(19	)		(37	)			(52	)		(89	)			17			(8	)		—			(5	)		9			9			5			*			*
Special charges 4/		—			80			10				80			90				27			259			6			2			286			292			294			66	%		(69	%)
Equity income from cholesterol joint venture		(311	)		(355	)		(390	)			(666	)		(1,056	)			(220	)		(170	)		(215	)		(268	)		(389	)		(605	)		(873	)		81	%		75	%
Income before income taxes		436			345			412				780			1,193				191			26			88			192			216			305			497			*			*
Income tax expense 5/		86			86			103				172			275				64			74			23			66			138			162			228			*			70	%
Net income/(loss) before cumulative effect of a change in accounting principle		350			259			309				608			918				127			(48	)		65			126			78			143			269			*			*
Cumulative effect of a change in accounting principle, net of tax 6/		(22	)		—			—				(22	)		(22	)			—			—			—			—			—			—			—			—			*
Net income/(loss) 6/		372			259			309				630			940				127			(48	)		65			126			78			143			269			*			*
Preferred stock dividends		22			22			22				43			65				22			22			22			22			43			65			86			—			—
Net income/(loss) available to common shareholders 6/		350			237			287				587			875				105			(70	)		43			104			35			78			183			*			*
Diluted earnings/(loss) per common share:
Earnings/(loss) available to common shareholders before cumulative effect of a change in accounting principle		0.22			0.16			0.19				0.38			0.57				0.07			(0.05	)		0.03			0.07			0.02			0.05			0.12
Cumulative effect of a change in accounting principle, net of tax 6/		0.02			0.00			0.00				0.02			0.02				—			—			—			—			—			—			—
Diluted earnings/(loss) per common share 6/		0.24			0.16			0.19				0.40			0.59				0.07			(0.05	)		0.03			0.07			0.02			0.05			0.12
Avg. shares outstanding- diluted		1,486			1,489			1,492				1,487			1,489				1,480			1,476			1,487			1,487			1,482			1,483			1,484
Actual shares outstanding		1,481			1,481			1,483				1,481			1,483				1,475			1,476			1,478			1,479			1,476			1,478			1,479
Ratios to net sales
Net sales		100.0	%		100.0	%		100.0	%			100.0	%		100.0	%			100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Cost of sales		35.0	%		35.6	%		34.4	%			35.3	%		35.0	%			37.5	%		34.2	%		34.0	%		35.1	%		35.8	%		35.2	%		35.2	%
Gross margin		65.0	%		64.4	%		65.6	%			64.7	%		65.0	%			62.5	%		65.8	%		66.0	%		64.9	%		64.2	%		64.8	%		64.8	%
Selling, general and administrative		42.6	%		43.4	%		45.0	%			43.0	%		43.6	%			45.6	%		44.1	%		46.6	%		47.9	%		44.8	%		45.4	%		46.0	%
Research and development		18.8	%		19.1	%		20.8	%			19.0	%		19.6	%			16.2	%		17.4	%		24.8	%		20.4	%		16.8	%		19.4	%		19.6	%
Income before income taxes		17.1	%		12.2	%		16.0	%			15.0	%		15.0	%			8.0	%		1.0	%		3.8	%		8.3	%		4.4	%		4.2	%		5.2	%
Net income/(loss)		14.6	%		9.2	%		12.0	%			11.8	%		11.8	%			5.3	%		(1.9	%)		2.8	%		5.4	%		1.6	%		2.0	%		2.8	%

*	Not a meaningful percentage
Note:	The Company incurs substantial costs, such as selling, general and administrative costs, that are not reflected in the “Equity income from cholesterol joint venture” and are borne by the overall cost structure of Schering-Plough.
1/	Net sales for the third quarter and nine months ended September 30, 2006, includes $47 million related to the reversal of previously accrued rebate amounts for the U.S. Government’s TRICARE Retail Pharmacy Program that a U.S. Federal court has ruled pharmaceutical manufacturers are not obligated to pay.
2/	Included in Cost of sales for the three months ended September 30, 2006 is $43 million of accelerated depreciation and other charges related to the manufacturing changes announced on June 1, 2006. Cost of sales for the nine months ended September 30, 2006 included $101 million of inventory write-offs, accelerated depreciation and other charges related to the manufacturing changes.
3/	Research and development for the twelve months ended December 31, 2005 included an R&D payment of $124 million, before a tax benefit of $6 million, to Centocor, Inc. for the Company’s exercise of its right to develop and commercialize golimumab, a fully human monoclonal antibody being developed as a therapy for the treatment of rheumatoid arthritis and other immune-mediated inflammatory diseases.
4/	Special charges in the third quarter of 2006 reflects severance of $10 million related to the manufacturing changes announced on June 1, 2006. Special charges of $90 million for the nine months ended September 30, 2006 include severance and fixed asset write-offs related to the manufacturing changes. Special charges for the twelve months ended December 31, 2005 included an addition of $250 million to the Company’s litigation reserves relating to the Massachusetts investigation and previously disclosed investigations and litigation relating to the company’s practices regarding average wholesale price by the Department of Justice and certain states.
5/	Tax expense for all periods presented primarily relates to foreign tax expense as the Company did not recognize the benefit of U.S. tax operating losses. The Company’s full year 2005 tax provision included a benefit of approximately $42 million related to tax expense recorded in 2004 related to planned earnings repatriations under the American Jobs Creation Act (AJCA). This adjustment of tax expense associated with repatriation under the AJCA is the result of an IRS Notice issued by the U.S. Treasury in August 2005.
6/	In the first quarter of 2006, the Company adopted the provisions of SFAS 123R. As a result of this adoption the Company recognized a non-recurring cumulative effect adjustment of $22 million of income associated with the Company’s liability based compensation plans. Stock option expense in the third quarter and first nine months of 2006 was $16 million and $43 million, respectively, which is included in the respective expense line items.

All figures rounded. Totals may not add due to rounding. Percentages based on unrounded figures.

Page 1

SCHERING-PLOUGH CORPORATION
CONSOLIDATED SALES
(Dollars in Millions)

	2006														2005
	1st		2nd		3rd		4th	9		Full	1st		2nd		3rd		4th		9		Full		3rd Qtr.			9 Mos.
	Qtr.		Qtr.		Qtr.		Qtr.	Mos.		Year	Qtr.		Qtr.		Qtr.		Qtr.		Mos.		Year		vs			vs
	$		$		$		$	$		$	$		$		$		$		$		$		3rd Qtr.			9 Mos.
Prescription Pharm:		2,032		2,230		2,087			6,350			1,846		1,975		1,840		1,904		5,660		7,564		13	%		12	%
U.S.		656		718		733			2,108			549		609		597		600		1,755		2,355		23	%		20	%
International		1,376		1,512		1,354			4,242			1,297		1,366		1,243		1,304		3,905		5,209		9	%		9	%
Consumer Health Care:		311		349		259			918			330		330		235		198		895		1,093		10	%		3	%
OTC:		153		149		138			440			162		162		129		103		453		556		7	%		(3	%)
OTC Claritin		111		111		95			318			116		133		92		54		340		394		4	%		(7	%)
Other OTC		42		38		43			122			46		29		37		49		113		162		16	%		9	%
Foot Care:		83		96		92			270			84		89		85		75		258		333		8	%		5	%
Sun Care:		75		104		29			208			84		79		21		20		184		204		38	%		13	%
Animal Health:		208		239		228			676			193		227		209		222		629		851		9	%		7	%
U.S.		57		62		72			191			44		54		68		50		166		216		6	%		15	%
International		151		177		156			485			149		173		141		172		463		635		11	%		5	%
Total Consolidated:		2,551		2,818		2,574			7,944			2,369		2,532		2,284		2,324		7,184		9,508		13	%		11	%
U.S.		999		1,103		1,047			3,149			897		970		886		837		2,752		3,589		18	%		14	%
International		1,552		1,715		1,527			4,795			1,472		1,562		1,398		1,487		4,432		5,919		9	%		8	%

     All figures rounded. Totals may not add due to rounding. Percentages based on unrounded figures.

Page 2

SCHERING-PLOUGH CORPORATION
PRESCRIPTION PHARMACEUTICAL SALES — KEY PRODUCT SALES
(Dollars in Millions)

	Global Prescription Pharm							U.S.							International
	2006		2005					2006		2005					2006		2005
	3rd		3rd		3rd Qtr.			3rd		3rd		3rd Qtr.			3rd		3rd		3rd Qtr.
	Qtr.		Qtr.		vs			Qtr.		Qtr.		vs			Qtr.		Qtr.		vs
	$		$		3rd Qtr.			$		$		3rd Qtr.			$		$		3rd Qtr.
Prescription Pharm:		2,087		1,840		13	%		733		597		23	%		1,354		1,243		9	%
REMICADE		317		237		34	%		—		—		—			317		237		34	%
NASONEX		221		170		30	%		153		109		41	%		68		61		11	%
PEG-INTRON		206		185		11	%		51		42		23	%		155		143		8	%
TEMODAR		179		152		18	%		72		70		4	%		107		82		30	%
CLARINEX / AERIUS		171		157		9	%		98		93		6	%		73		64		15	%
INTEGRILIN		82		86		(5	%)		78		82		(6	%)		4		4		—
CLARITIN RX		74		76		(2	%)		—		—		—			74		76		(2	%)
REBETOL		72		82		(12	%)									72		80		(10	%)
AVELOX 1/		63		41		55	%		63		41		55	%		—		—		—
INTRON A		57		72		(21	%)		28		36		(21	%)		29		36		(21	%)
CAELYX		52		46		14	%		—		—		—			52		46		14	%
SUBUTEX		51		44		14	%		—		—		—			51		44		14	%
ELOCON		36		34		6	%		1		1		5	%		35		33		6	%
CIPRO 1/		28		41		(32	%)		28		41		(32	%)		—		—		—

1/ Includes net sales in Puerto Rico

     All figures rounded. Totals may not add due to rounding. Percentages based on unrounded figures.

Page 3

SCHERING-PLOUGH CORPORATION
GLOBAL PRESCRIPTION PHARMACEUTICAL SALES — KEY PRODUCT SALES
(Dollars in Millions)

	2006										2005
	1st		2nd		3rd		4th	9		Full	1st		2nd		3rd		4th		9		Full		3rd Qtr.			9 Mos.
	Qtr.		Qtr.		Qtr.		Qtr.	Mos.		Year	Qtr.		Qtr.		Qtr.		Qtr.		Mos.		Year		vs			vs
	$		$		$		$	$		$	$		$		$		$		$		$		3rd Qtr.			9 Mos.
Global Prescription Pharm:		2,032		2,230		2,087			6,350			1,846		1,975		1,840		1,904		5,660		7,564		13	%		12	%
REMICADE		278		307		317			902			220		234		237		251		691		942		34	%		31	%
NASONEX		229		242		221			691			183		199		170		185		552		737		30	%		25	%
PEG-INTRON		196		226		206			629			170		182		185		214		537		751		11	%		17	%
TEMODAR		163		171		179			513			131		145		152		160		428		588		18	%		20	%
CLARINEX / AERIUS		160		226		171			557			144		207		157		139		507		646		9	%		10	%
INTEGRILIN		80		82		82			244			75		82		86		71		244		315		(5	%)		—
CLARITIN RX		101		104		74			279			111		100		76		85		287		371		(2	%)		(3	%)
REBETOL		78		86		72			237			64		91		82		94		237		331		(12	%)		—
AVELOX 1/		80		58		63			201			73		46		41		68		159		228		55	%		26	%
INTRON A		60		64		57			180			73		75		72		66		220		287		(21	%)		(18	%)
CAELYX		51		53		52			156			43		46		46		46		135		181		14	%		15	%
SUBUTEX		48		53		51			152			51		53		44		49		148		197		14	%		2	%
ELOCON		34		38		36			108			41		38		34		32		113		144		6	%		(4	%)
CIPRO 1/		25		34		28			86			37		36		41		33		114		146		(32	%)		(24	%)

1/ Includes net sales in Puerto Rico

     All figures rounded. Totals may not add due to rounding. Percentages based on unrounded figures.

Page 4

SCHERING-PLOUGH CORPORATION
U.S. PHARMACEUTICAL SALES — KEY PRODUCT SALES
(Dollars in Millions)

	2006										2005
	1st		2nd		3rd		4th	9		Full	1st		2nd		3rd		4th		9		Full		3rd Qtr.			9 Mos.
	Qtr.		Qtr.		Qtr.		Qtr.	Mos.		Year	Qtr.		Qtr.		Qtr.		Qtr.		Mos.		Year		vs			vs
	$		$		$		$	$		$	$		$		$		$		$		$		3rd Qtr.			9 Mos.
Total U.S. Pharm:		656		718		733			2,108			549		609		597		600		1,755		2,355		23	%		20	%
NASONEX		144		144		153			441			109		115		109		115		332		447		41	%		33	%
PEG-INTRON		43		57		51			152			52		38		42		52		132		184		23	%		15	%
TEMODAR		67		72		72			212			57		65		70		73		191		264		4	%		11	%
CLARINEX / AERIUS		70		97		98			264			67		90		93		76		249		325		6	%		6	%
INTEGRILIN		76		78		78			231			71		78		82		67		232		299		(6	%)		—
AVELOX 1/		80		58		63			201			73		46		41		68		159		228		55	%		26	%
INTRON A		30		33		28			91			32		36		36		32		104		136		(21	%)		(13	%)
ELOCON		—		1		1			3			4		2		1		—		7		7		5	%		(61	%)
CIPRO 1/		25		34		28			86			37		36		41		33		114		146		(32	%)		(24	%)

1/ Includes net sales in Puerto Rico

     All figures rounded. Totals may not add due to rounding. Percentages based on unrounded figures.

Page 5

SCHERING-PLOUGH CORPORATION
INTERNATIONAL PHARMACEUTICAL SALES — KEY PRODUCT SALES
(Dollars in Millions)

	2006										2005
	1st		2nd		3rd		4th	9		Full	1st		2nd		3rd		4th		9		Full		3rd Qtr.			9 Mos.
	Qtr.		Qtr.		Qtr.		Qtr.	Mos.		Year	Qtr.		Qtr.		Qtr.		Qtr.		Mos.		Year		vs			vs
	$		$		$		$	$		$	$		$		$		$		$		$		3rd Qtr.			9 Mos.
Total International Pharm:		1,376		1,512		1,354			4,242			1,297		1,366		1,243		1,304		3,905		5,209		9	%		9	%
REMICADE		278		307		317			902			220		234		237		251		691		942		34	%		31	%
NASONEX		85		98		68			250			74		84		61		70		220		290		11	%		14	%
PEG-INTRON		153		169		155			477			118		144		143		162		405		567		8	%		18	%
TEMODAR		96		99		107			301			74		80		82		87		237		324		30	%		28	%
CLARINEX / AERIUS		90		129		73			293			77		117		64		63		258		321		15	%		14	%
INTEGRILIN		4		4		4			13			4		4		4		4		12		16		—			4	%
CLARITIN RX		101		104		74			279			111		100		76		85		287		371		(2	%)		(3	%)
REBETOL		76		84		72			233			70		90		80		90		239		330		(10	%)		(3	%)
INTRON A		30		31		29			89			41		39		36		34		116		151		(21	%)		(23	%)
CAELYX		51		53		52			156			43		46		46		46		135		181		14	%		15	%
SUBUTEX		48		53		51			152			51		53		44		49		148		197		14	%		2	%
ELOCON		34		37		35			105			37		36		33		32		106		137		6	%		(1	%)

     All figures rounded. Totals may not add due to rounding. Percentages based on unrounded figures.

Page 6

SCHERING-PLOUGH CORPORATION
CHOLESTEROL FRANCHISE SALES
(Dollars in Millions)

	2006										2005
	1st		2nd		3rd		4th	9		Full	1st		2nd		3rd		4th		9		Full		3rd Qtr.			9 Mos.
	Qtr.		Qtr.		Qtr.		Qtr.	Mos.		Year	Qtr.		Qtr.		Qtr.		Qtr.		Mos.		Year		vs			vs
	$		$		$		$	$		$	$		$		$		$		$		$		3rd Qtr.			9 Mos.
Global ZETIA: 1/		415		474		501			1,390			331		317		357		392		1,004		1,396		40	%		38	%
U.S.		315		363		389			1,067			269		240		277		297		785		1,082		40	%		36	%
International		100		111		112			323			62		77		80		95		219		314		40	%		47	%
Global VYTORIN: 1/		371		491		517			1,379			178		201		265		368		644		1,012		95	%		114	%
U.S.		319		421		431			1,172			157		173		229		314		560		874		88	%		109	%
International		52		70		86			207			21		28		36		54		84		138		139	%		146	%
Global Cholesterol: 1/ 2/		786		965		1,018			2,769			509		518		622		760		1,648		2,408		64	%		68	%
U.S.		634		784		820			2,239			426		413		506		611		1,345		1,956		62	%		66	%
International		152		181		198			530			83		105		116		149		303		452		71	%		75	%

1/	Substantially all sales of cholesterol products are not included in the Company’s net sales. Global sales include sales under the Merck/Schering-Plough partnership, plus any sales that are not part of the partnership, such as Schering-Plough sales of cholesterol products in Latin America. In the third quarter of 2006 and 2005, sales in non-joint venture territories of the cholesterol franchise totaled $8 and $6, respectively. For the first nine months of 2006 and 2005, sales in non-joint venture territories of the cholesterol franchise totaled $22 and $14, respectively.
2/	Global cholesterol franchise sales for the third quarter and nine-months ended September 30, 2006 includes approximately $24 million related to the reversal of previously accrued rebate amounts for a U.S. Government prescription pharmaceutical program (the “TRICARE Retail Pharmacy Program”) that a U.S. Federal court ruled pharmaceutical manfacturers are not obligated to pay.
	The results of the operation of the joint venture are reflected in equity income. As a result, the Company’s gross margin and ratios of selling, general and administrative expenses and R&D expenses as a percentage of sales do not reflect the impact of the cholesterol joint venture’s operating results.
	The company utilizes the equity method of accounting for the joint venture. The cholesterol agreements provide for the sharing of net income/(loss) based upon percentages that vary by product, sales level and country. In the U.S. market, Schering-Plough receives a greater share of profits on the first $300 of annual ZETIA sales. Above $300 of annual ZETIA sales, the companies share profits equally. Schering-Plough’s allocation of joint venture income is increased by milestones earned. Further, either partner’s share of the joint venture’s net income/(loss) is subject to a reduction if the partner fails to perform a specified minimum number of physician details in a particular country. The partners agree annually to the minimum number of physician details by country.

     All figures rounded. Totals may not add due to rounding. Percentages based on unrounded figures.

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SCHERING-PLOUGH CORPORATION
CONSOLIDATED OPERATIONS DATA
(Dollars in Millions)
(Unaudited)

	2006														2005
	1st			2nd			3rd			4th	9			Full	1st			2nd			3rd			4th			9			Full
	Qtr.			Qtr.			Qtr.			Qtr.	Mos.			Year	Qtr.			Qtr.			Qtr.			Qtr.			Mos.			Year
	$			$			$			$	$			$	$			$			$			$			$			$
Geographic sales
U.S.		999			1,103			1,047				3,149				897			970			886			837			2,752			3,589
Europe and Canada		1,046			1,206			1,044				3,296				1,035			1,102			927			976			3,065			4,040
Latin America		260			248			233				741				210			218			223			233			650			884
Asia Pacific		246			261			250				758				227			242			248			278			717			995
Consolidated sales		2,551			2,818			2,574				7,944				2,369			2,532			2,284			2,324			7,184			9,508
	2006														2005
	1st			2nd			3rd			4th	9			Full	1st			2nd			3rd			4th			9			Full
	Qtr.			Qtr.			Qtr.			Qtr.	Mos.			Year	Qtr.			Qtr.			Qtr.			Qtr.			Mos.			Year
	$			$			$			$	$			$	$			$			$			$			$			$
Other (income)/expense, net
Interest income		(68	)		(69	)		(77	)			(214	)			(33	)		(40	)		(45	)		(58	)		(118	)		(176	)
Interest expense		46			45			40				131				45			40			36			41			122			163
FX losses		—			5			—				6				4			1			2			2			6			8
Other (income)/expense		(12	)		—			—				(12	)			1			(9	)		7			10			(1	)		10
Total — Other (income)/expense, net		(34	)		(19	)		(37	)			(89	)			17			(8	)		—			(5	)		9			5

     All figures rounded. Totals may not add due to rounding.

Alex Kelly	908-298-7450
Robyn Brown	908-298-7417

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