Exhibit 11 SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE (Dollars in millions, except per share figures) Nine Months Ended September 30, 1995 1994 Income From Continuing Operations . . . . . $ 813.6 $ 714.7 Discontinued Operations: Income(Loss) From Operations. . . . . . . (10.2) 3.5 Loss on Disposal. . . . . . . . . . . . . (156.2) - Net Income. . . . . . . . . . . . . . . . . $ 647.2 $ 718.2 Earnings per Common Share, As Reported: Average Number of Common Shares Outstanding (in thousands). . . . . . . . . 371,204 385,058 Earnings per Common Share: Continuing Operations . . . . . . . . . . $ 2.19 $ 1.86 Discontinued Opertions: Income(loss) From Operations. . . . . . (.03) .01 Loss on Disposal. . . . . . . . . . . . (.42) - Total . . . . . . . . . . . . . . . . . . . $ 1.74 $ 1.87 Earnings per Common Share, Assuming Full Dilution: (a) Average Number of Common Shares Outstanding (in thousands) . . . . . . . . 371,204 385,058 Shares Contingently Issuable for Stock Incentive Plans and Warrant Agreements (in thousands). . . . . . . . . 5,376 4,508 Average Number of Common Shares and Common Share Equivalents Outstanding (in thousands) . . . . . . . . . . . . . . 376,580 389,566 Earnings per Common Share: Continuing Operations . . . . . . . . . . $ 2.16 $ 1.83 Discontinued Opertions: Income(loss) From Operations. . . . . . (.03) .01 Loss on Disposal. . . . . . . . . . . . (.41) - Earnings per Common Share, Assuming Full Dilution. . . . . . . . . . . . . . . $ 1.72 $ 1.84 <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%.