Exhibit 11   
                SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES
                  COMPUTATION OF EARNINGS PER COMMON SHARE  
                   (In millions, except per share figures)



                                                      Year Ended December 31,     
                                               1994            1993         1992          
                                                                

Earnings per Common Share, As Reported:                                     
Net Income Applicable
  to Common Shares . . . . . . . . . . .    $    922.0    $    730.8     $   720.4      

Average Number of Common Shares
  Outstanding. . . . . . . . . . . . .           191.3         195.1         200.2 

Earnings Per Common Share. . . . . . .      $     4.82    $     3.75     $    3.60   

Earnings per Common Share, Assuming
  Full Dilution: (a)

Average Number of Common Shares
  Outstanding . . . . . . . . . . . .            191.3         195.1         200.2 

Shares Contingently Issuable for 
  Stock Incentive Plans . . . . . . .              2.0           2.2           2.8   

Average Number of Common Shares
  and Common Share Equivalents
  Outstanding . . . . . . . . . . . .            193.3         197.3         203.0 


Earnings Per Common Share Assuming
  Full Dilution . . . . . . . . . . .       $     4.77    $     3.70     $    3.55

<FN>

(a)  This calculation is submitted in accordance with the regulations of the Securities
     and Exchange Commission although not required by APB Opinion No. 15 because it        
     results in dilution of less than 3%.