Merck Sharp & Dohme 8-K Other Events

Exhibit 12

MERCK & CO., INC. AND SUBSIDIARIES

Computation Of Ratios Of Earnings To Fixed Charges

($ in millions except ratio data)

	Twelve Months
	Ended
	December 31			Years Ended December 31
	2005			2004			2003			2002			2001			2000
Income from Continuing Operations Before Taxes	$	7,363.9		$	7,974.5		$	9,051.6		$	9,651.7		$	9,948.1		$	9,362.3
Add (Subtract):
One-third of rents		68.2			71.9			75.6			67.2			64.2			55.9
Interest expense, gross		385.5			293.7			350.9			390.6			463.7			484.0
Interest capitalized, net of amortization		(1.0	)		(21.3	)		(30.1	)		(36.9	)		(66.1	)		(99.0	)
Equity (income) loss from affiliates, net of distributions		(615.9	)		(421.2	)		79.2			(156.1	)		(113.7	)		(288.3	)
Preferred stock dividends, net of tax		120.0			151.0			150.9			164.3			199.6			205.0
Earnings from Continuing Operations	$	7,320.7		$	8,048.6		$	9,678.1		$	10,080.8		$	10,495.8		$	9,719.9
One-third of rents	$	68.2		$	71.9		$	75.6		$	67.2		$	64.2		$	55.9
Interest expense, gross		385.5			293.7			350.9			390.6			463.7			484.0
Preferred stock dividends		166.7			207.1			215.6			234.7			285.1			292.9
Fixed Charges from Continuing Operations	$	620.4		$	572.7		$	642.1		$	692.5		$	813.0		$	832.8
Ratio of Earnings to Fixed Charges from Continuing Operations		12			14			15			15			13			12

For purposes of computing these ratios, “earnings” consist of income from continuing operations before taxes, one-third of rents (deemed by the Company to be representative of the interest factor inherent in rents), interest expense, net of amounts capitalized, equity (income) loss from affiliates, net of distributions, and dividends on preferred stock of subsidiary companies. “Fixed charges” consist of one-third of rents, interest expense as reported in the Company’s consolidated financial statements and dividends on preferred stock of subsidiary companies.