Exhibit 11

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

                                          Three Months Ended
                                               March 31,    
                                            1996      1995  
                                              

Earnings per Common Share, As Reported:

Income from continuing operations . . .   $ 326.6   $  284.9
Discontinued operations . . . . . . . .         -       (6.3)
Net income applicable to common shares.     326.6      278.6 

Average Number of Common Shares
Outstanding . . . . . . . . . . . . . .     365.7      372.0

Earnings per Common Share:

Income from continuing operations . . .       .89        .77
Discontinued operations . . . . . . . .         -       (.02)

Earnings per Common Share . . . . . . .   $   .89   $    .75

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

Average Number of Common Shares
Outstanding . . . . . . . . . . . . . .     365.7      372.0 

Shares Contingently Issuable for
Stock Incentive Plans and Warrant
Agreements. . . . . . . . . . . . . . .       4.1        4.6

Average Number of Common Shares and
Common Share Equivalents Outstanding. .     369.8      376.6

Earnings per Common Share, Assuming
  Full Dilution . . . . . . . . . . . .   $   .88   $    .74


(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%.