Exhibit 11 	SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES 	COMPUTATION OF EARNINGS PER COMMON SHARE 	(Amounts in millions, except per share figures) Six Months Ended June 30, 1996 1995 Earnings per Common Share, As Reported: Income from continuing operations . . . $ 643.7 $ 561.0 Discontinued operations: Loss from operations . . . . . . . . . - (10.2) Loss on disposal . . . . . . . . . . . - (156.2) Net income applicable to common shares. 643.7 394.6 Average Number of Common Shares Outstanding . . . . . . . . . . . . . . 367.3 372.1 Earnings per Common Share: Income from continuing operations . . . 1.75 1.51 Discontinued operations: Loss from operations . . . . . . . . . - (.03) Loss on disposal . . . . . . . . . . . - (.42) Total . . . . . . . . . . . . . . . . . $ 1.75 $ 1.06 Earnings per Common Share, Assuming Full Dilution: (a) Average Number of Common Shares Outstanding . . . . . . . . . . . . . . 367.3 372.1 Shares Contingently Issuable for Stock Incentive Plans and Warrant Agreements. . . . . . . . . . . . . . . 4.7 5.0 Average Number of Common Shares and Common Share Equivalents Outstanding. . 372.0 377.1 Earnings per Common Share: Continuing operations . . . . . . . . . 1.73 1.49 Discontinued operations: Loss from operations . . . . . . . . . - (.03) Loss on disposal . . . . . . . . . . . - (.41) Earnings per Common Share, Assuming Full Dilution . . . . . . . . . . . . $ 1.73 $ 1.05 (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%. WD041001.10Q