Exhibit 11 SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE (Dollars in millions, except per share figures) Six Months Ended June 30, 1995 1994 Income From Continuing Operations . . . . . . . . $ 561.0 $ 488.5 Discontinued Operations: Income(Loss) From Operations. . . . . . . . . . (10.2) 5.4 Loss on Disposal. . . . . . . . . . . . . . . . (156.2) - Net Income. . . . . . . . . . . . . . . . . . . . $ 394.6 $ 493.9 Earnings per Common Share, As Reported: Average Number of Common Shares Outstanding (in thousands). . . . . . . . . . . 372,105 385,936 Earnings per Common Share: Continuing Operations . . . . . . . . . . . . $ 1.51 $ 1.27 Discontinued Opertions: Income(loss) from operations. . . . . . . . (.03) .01 Loss on disposal. . . . . . . . . . . . . . (.42) - Total . . . . . . . . . . . . . . . . . . . . . $ 1.06 $ 1.28 Earnings per Common Share, Assuming Full Dilution: (a) Average Number of Common Shares Outstanding (in thousands) . . . . . . . . . . 372,105 385,936 Shares Contingently Issuable for Stock Incentive Plans (in thousands) . . . . . 5,041 4,348 Average Number of Common Shares and Common Share Equivalents Outstanding (in thousands) . . . . 377,146 390,284 Earnings per Common Share: Continuing Operations . . . . . . . . . . . . $ 1.49 $ 1.25 Discontinued Opertions: Income(loss) from operations. . . . . . . . (.03) .01 Loss on disposal. . . . . . . . . . . . . . (.41) - Earnings per Common Share, Assuming Full Dilution. . . . . . . . . . . . . . . . . $ 1.05 $ 1.26 <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%.