Exhibit 11 SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE (Dollars in millions, except per share figures) Three Months Ended March 31, 1995 1994 Net Income Applicable to Common Shares. . . . . . $ 278.6 $ 253.2 Earnings per Common Share, As Reported: Average Number of Common Shares Outstanding (in thousands). . . . . . . . . . . 186,019 193,489 Earnings per Common Share. . . . . . . . . . . . $ 1.50 $ 1.31 Earnings per Common Share, Assuming Full Dilution: (a) Average Number of Common Shares Outstanding (in thousands) . . . . . . . . . . 186,019 193,489 Shares Contingently Issuable for Stock Incentive Plans (in thousands) . . . . . 2,293 2,170 Average Number of Common Shares and Common Share Equivalents Outstanding (in thousands) . . . . . . . . . . . . . . . . 188,312 195,659 Earnings per Common Share, Assuming Full Dilution. . . . . . . . . . . . . . . . . $ 1.48 $ 1.29 <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%.