EXHIBIT 11



          AMERICAN HOME PRODUCTS CORPORATION AND SUBSIDIARIES
                 COMPUTATION OF EARNINGS PER SHARE
              (In Thousands Except Per Share Amounts)


                                 Three Months Ended  Nine Months Ended
                                     September 30,       September 30,
                                         1997                 1997

                                               
1. Net Income ..................           $435,532         $1,471,301

2. Reported earnings per share:                                      

    a.  Average number of common        
        shares outstanding during 
        the period ..............           649,009            645,716


    b.  Reported earnings per 
        share (1/2a) .............            $0.67              $2.28


3. Primary earnings per share:  

    a.  Average number of common
        shares outstanding during 
        the period ...............          649,009            645,716
  
    b.  Common shares deemed
        outstanding from the  
        assumed exercise of stock 
        options reduced by the  
        number of common shares 
        purchased with the proceeds
        (determined using the average 
        market price during the 
        period)....................          15,557            14,446
        
    c.  Deferred contingent common 
        stock awards ..............             494               494
                                                                       
    d.  Shares for primary earnings 
        per share calculation 
        (3a+3b+3c) ................         665,060           660,656
  
    e.  Primary earnings per share   
        (1/3d).....................           $0.65             $2.23


4.  Fully diluted earnings per share:

    a.  Average number of common 
        shares outstanding during 
        the period.................         649,009           645,716
        
    b.  Common shares deemed 
        outstanding from the assumed 
        exercise of stock options 
        reduced by the number of 
        common shares purchased 
        with the proceeds 
        (determined using the higher 
        of the average market price 
        during the period 
        or the market price at the 
        end of the period) .........         15,557             15,191
  
    c.  Deferred contingent common 
        stock awards ...............            494                494


    d.  Shares for fully diluted
        earnings per share 
        calculation (4a+4b+4c)......        665,060            661,401

    e.  Fully diluted earnings per 
        share (1/4d) ...............          $0.65              $2.22
        
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