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					                                         Schering-Plough
Schering-Plough Corporation                               Established 1970
2000 Galloping Hill Road                                  Ownership Public
Kenilworth                                                Total Staff 30,500
NJ 07033-0530                                             Research Focus Pharmaceutical
USA                                                       Total Sales ($US) 8,334.0 (Dec 03)
                                                          Pharma Sales ($US) 6,672.0 (Dec 03)
                                                          Scrip Ranking 17
Phone Number               +1 908 298 4000
Web Address                www.schering-plough.com



Principals

Chairman & CEO                      Fred Hassan                           Elected April 2003. Previously
                                                                          Chairman & CEO, Pharmacia

Executive V-P & CFO                 Robert J Bertolini                    Appointed November 2003

Executive V-P & President,          Carrie S Cox                          Appointed May 2003
Global Pharmaceuticals

Executive V-P, Discovery            Catherine Strader                     Promoted from Senior V-P,
Research                                                                  Discovery Biological Research

Senior V-P & President,             Dr Cecil B Pickett                    Promoted May 2004. Previously
Schering-Plough Research                                                  Senior V-P, Basic Research, Merck
Institute                                                                 Research Labs

Senior V-P, Medical Affairs &       Dr Robert J Spiegel                   Previously Senior V-P, Clinical
CMO, Schering-Plough Research                                             Research
Institute

Executive V-P & General             Thomas J Sabatino Jr                  Appointed March 2004. Previously
Counsel                                                                   V-P & General Counsel, Baxter

Senior V-P, Global Compliance       Brent Saunders                        Appointed November 2003
& Business Practices

Senior V-P, Global Licensing        Michael J DuBois                      Appointed September 2003
                                                                          Phone: +1 908 298 6720
                                                                          michael.dubois@spcorp.com

Senior V-P, Global Human            C Ron Cheeley                         Joined July 2003. Previously V-P,
Resources                                                                 Global Compensation, Pharmacia

Senior V-P, Global Quality          Richard S Bowles                      Joined January 2001
Operations

Senior V-P, Global Business         Bruce R Reid                          Appointed July 2003. Previously,
Operations                                                                V-P, Global Business Operations,
                                                                          Pharmacia

V-P, Investor Relations             Alex Kelly                            Appointed May 2004

V-P & Chief Information Officer     Karl D Salnoske                       Appointed November 2004.
                                                                          Formerly President & CEO,
                                                                          Adaptive Trade and also with IBM

V-P, Global Information             Christopher Kelly                     Appointed March 2005. Previously
Technology, Global Supply                                                 with IBM
Chain/Global Quality
Operations

V-P, Global Project Management     Dr Michael Perelman                  Appointed May 2005
& Global Regulatory Affairs

V-P, Global Project                Dr Sumant Ramachandra                Appointed May 2005. Previously
Management, Schering-Plough                                             Group Leader, US Medical
Research Institute                                                      Oncology Therapeutic Area, Pfizer

V-P, Business Development,         Nancy Miller-Rich
Schering-Plough Consumer
Health Care

V-P, Strategic Alliances &         Dr Thomas Picone
Global Licensing

Group Head, Global Speciality      Raul E Kohan                         Joined 1984 as Finance Director,
Operations & President, Animal                                          Venezuela. Appointed to V-P,
Health                                                                  Finance Operations, Schering-
                                                                        Plough International in 1990

Senior Director, Technology        Dr Arthur Bertelsen                  Phone: +1 908 740 3290
Acquisition & External                                                  Fax: +1 908 740 7164
Collaboration                                                           arthur.bertelsen@spcorp.com

Manager, Global Licensing          Ann Martin

Updated by LH on 27/05/2005.


Licensing contact

Michael J Dubois, Senior V-P, Global Licensing
Phone: +1 908 298 6720
E-mail: michael.dubois@spcorp.com

Pharma:
Ann Martin, Manager, Global Licensing
E-mail: ann.martin@spcorp.com

Consumer Products:
Nancy Miller-Rich, V-P, Business Development, Schering-Plough Consumer Health Care
Three Oak Way, Berkeley Heights, NJ 07922-0603

Corporate:
Dr Thomas Picone, V-P, Strategic Alliances & Global Licensing
Updated by LH on 14/07/2005.


The company

Schering-Plough is a research-based company engaged in the discovery, development, manufacturing and
marketing of pharmaceutical and healthcare products worldwide. Pharmaceutical products include prescription
drugs and animal health products. Healthcare products include OTC, foot care and sun care products. The
company operates in most countries worldwide under the Schering-Plough name.
Mergers & acquisitions

1997    June             Schering-Plough acquires the worldwide animal health business of Mallinckrodt
                         Veterinary
2000    July             Schering-Plough purchases the summit, NJ, research and office facility from Novartis
2005    January          Schering-Plough agrees to acquire most of NeoGenesis' assets, subject to normal
                         closing conditions (Press release, Schering-Plough, 20 Jan 2005). COMPLETED
                         FEBRUARY 2005 (Press release, Schering-Plough, 18 Feb 2005)
        April            Faes Pharma acquires the product Lixacol from Schering-Plough (Press release, Faes,
                         22 Apr 2005)
Updated by EW on 07/06/2005.


Operating locations/subsidiaries

Canji (a research company)
DNAX (a biotechnology research company)
Essex Chemie
Schering-Plough Pharmaceuticals (encompasses global research, development, manufacturing and marketing
of human use and animal health pharmaceuticals)
Key Pharmaceuticals (specialises in the development of controlled-release forms of ethical drugs)
Schering-Plough HealthCare Production (produces OTC goods)
Warrick Pharmaceuticals (manufactures generics)
Schering-Plough Animal Health
Africa                  Egypt, South Africa
Asia                    China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines,
                        Singapore, South Korea, Taiwan, Thailand
Australasia             Australia
Europe                  Austria, Belarus, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Finland,
                        France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland,
                        Portugal, Romania, Russia, Slovak Republic, Slovenia, Spain, Sweden, Switzerland,
                        Turkey, Ukraine, UK
North America           Canada, Caribbean, Mexico, USA
South America           Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela
Updated by EW on 06/07/2005.


Joint ventures

With                     Location         Joint venture

YuHan Corporation        South Korea      as Schering-Plough Korea (Schering-Plough: 90%; YuHan: 10%)
Shanghai                 China            as Shanghai Schering-Plough Pharmaceutical Company
Pharmaceuticals                           (Schering: 55%)
corporations
Merck                    Unknown          as Merck/Schering-Plough Pharmaceuticals


Agreements

1996    Dura (Elan)                       to co-promote Uni-Dur (once-daily theophylline) in the US
        Apogepha                          for worldwide marketing rights to the urinary incontinence therapy,
                                          propiveripine. AMENDED JULY 2004, as UK marketing rights
                                          are granted to Amdipharm
        GlaxoSmithKline (previously       whereby GlaxoSmithKline sub-licenses Human Genome Sciences
        through SmithKline                genomic data to Schering-Plough, in return for shared development
        Beecham)                          and marketing of any resulting products
       Biogen Idec (previously      for rights to market the multiple sclerosis treatment, Avonex
       through Biogen)              (interferon -1a), in Spain
       Sequus (Alza)                for exclusive marketing rights to Sequus’ Kaposi’s sarcoma
                                    therapy, Caelyx (doxorubicin HCl) outside the US, Japan and
                                    certain other markets
       Applied Pharma Research      for a licence to a sucralphate suspension
       Vita-Invest                  for exclusive marketing rights to commercialise Vita’s OTC
                                    products
1997   Oscient Pharmaceuticals      to develop new treatments for asthma. EXTENDED 2000
       (previously through Genome
       Therapeutics)
       University of Toronto,       for three years to fund research into the role of two mutated genes,
       Canada                       presenilins, in Alzheimer’s disease
       Novopharm                    through Warrick to develop, manufacture and market worldwide
                                    Novopharm’s generic biopharmaceuticals
       Myriad Genetics              to discover genes which could lead to novel therapeutics for the
                                    treatment of prostate and other cancers
       Dendreon (previously         through Dendreon San Diego, to develop and market oral protease
       through Corvas)              inhibitors for the treatment of hepatitis C
       UCB (previously through      to develop oral treatments for asthma and other inflammatory
       Celltech Chiroscience)       diseases based on Celltech Chiroscience’s phosphodiesterase IV
                                    inhibitors
       Reckitt & Colman             for exclusive worldwide distribution rights to Reckitt & Coleman’s
                                    buprenorphine line of prescription products excluding Japan,
                                    Taiwan and South Korea
       Oscient Pharmaceuticals      to discover and develop novel antifungals and to acquire non-
       (previously through Genome   exclusive licence to Genome Therapeutic Corp’s proprietary
       Therapeutics)                sequence database, PathoGenome
       Aphton                       whereby Schering-Plough acquires all rights to Aphton's anti-
                                    gastrin immunogen for use in animal health applications
       Zonagen                      for worldwide rights to Zonagen’s Vasomax (phentolamine) oral
                                    erectile dysfunction treatment
       Sepracor                     for exclusive global rights to Sepracor’s patents on the active
                                    metabolite of the Schering-Plough antihistamine, Claritin
                                    (loratadine)
1998   Transgène                    for five years to develop six gene therapy products using
                                    Transgène’s adenoviral delivery platform. Initial development will
                                    focus on Schering-Plough’s p53 tumour suppressor gene
       Genzyme Molecular            to develop gene therapy products for cancer, based on Genzyme’s
       Oncology                     lipid delivery technology
       Abgenix                      to use Abgenix' XenoMouse transgenic mouse technology for the
                                    generation of fully human antibodies in the field of inflammation
       Solvay                       whereby Solvay acquires US marketing rights to Schering-
                                    Plough’s Prometrium (oral progesterone)
       OncorMed (Gene Logic)        whereby OncorMed conducts sample analysis to determine the p53
                                    status of prospective clinical trial candidates for Schering-Plough’s
                                    rAd/p53 anticancer gene therapy
       Novo Nordisk                 for US co-promotion rights to Novo Nordisk’s insulin drug and
                                    device ranges, including the oral antidiabetic, Prandin (repaglinide)
       Chugai                       for global exclusive marketing rights, excluding Japan, to Chugai’s
                                    vitamin D3 analogue, maxacalcitol (22-oxacalcitriol), for psoriasis
       Ribi ImmunoChem              for global exclusive distribution, marketing and selling rights to
                                    Ribi’s Melacine melanoma vaccine
       Centocor (Johnson &          for exclusive rights to Centocor’s monoclonal antibody, Avakine
       Johnson)                     (infliximab), for Crohn’s disease and rheumatoid arthritis, in all
                                    territories except the US, Japan and other parts of the Far East
       Sparta                       to use Sparta’s Spartaject technology to develop a formulation of
                                    Schering-Plough’s oral anticancer, Temodal (temozolomide)
       Immune Response                to combine Immune Response’s GeneDrug delivery technology
                                      with Schering-Plough’s interferon -2b and another proprietary
                                      gene, to develop hepatitis B and C gene therapy products
       Versicor (previously through   to screen Versicor’s microbial compound library against bacterial
       Biosearch Italia)              and fungal test organisms supplied by Schering-Plough
       Pharmacopeia                   for five years, whereby Schering-Plough subscribes to
                                      Pharmacopeia’s drug discovery and optimisation technologies
       Incyte Pharmaceuticals         for rights to Incyte’s LifeSeq gene sequence and expression
                                      database and LifeSeq FL database of full-length genes
       AstraZeneca                    whereby Essex Chemie will return marketing rights for Losec
                                      (omeprazole), an anti-peptic ulcer drug, and Perfudal/Prevex
                                      (felodipine), a calcium antagonist, to AstraZeneca
       TerraGen Discovery             through the Schering-Plough Research Institute, for the discovery
                                      and development of novel anti-infective therapeutics derived from
                                      microbial organisms to combat emerging strains of antibiotic-
                                      resistant pathogens
       EPIX Pharmaceuticals           (previously through NeoGenesis Pharmaceuticals) for the discovery
                                      of novel compounds for diagnostic imaging
1999   Medi-Ject                      whereby Medi-Ject provides the drug injector and Becton
       Corporation/Becton             Dickinson provides the disposable needle-free syringe component
       Dickinson                      of a needle-free drug delivery system for the administration of
                                      Intron A (interferon alfa-2b, recombinant for injection)
       Vernalis (previously British   to develop and commercialise Vernalis’ matrix metalloproteinase
       Biotech)                       inhibitors, including marimastat and BB-3644, for the treatment of
                                      cancer in all territories excepting Japan and the Far East
       Duramed                        whereby Duramed acquires rights to Schering-Plough’s
                                      progesterone
       AtheroGenics                   to develop and commercialise drugs for the treatment and
                                      prevention of restenosis, including AtheroGenics’ AGI-1067 lead
                                      compound for post-percutaneous coronary intervention restenosis.
                                      TERMINATED
       Millennium (previously         to collaborate on the study of the antiplatelet agent Integrilin in
       through Cor)/Genentech         combination with the new single bolus fibrinolytic, TNKase, in
                                      patients with acute myocardial infarction
       Hemispherx                     whereby Hemispherx acquires rights to use Schering-Plough’s
                                      Puerto Rican production facility to manufacture its Ampligen
                                      chronic fatigue syndrome/myalgic encephalitis product
       Biovail (previously through    whereby DJ Pharma acquires US marketing rights to Schering-
       DJ Pharma)                     Plough’s Cedax (ceftibuten) oral cephalosporin. TERMINATED
                                      AUGUST 2004, whereby Shionogi USA begins marketing and
                                      distributing Cedax in the US (Press release, Schering-Plough, 27
                                      Aug 2004))
       Curis (previously through      (previously through NeoGenesis Pharmaceuticals) for access to
       Creative BioMolecules)         Neogenesis’ diverse library of small molecules to identify lead
                                      compounds for the treatment of chronic degenerative disorders
2000   Drug Royalty                   for a 14-year deal whereby Drug Royalty acquires royalty interests
                                      in worldwide sales of Schering-Plough’s antihistamine, Claritin
       Bristol-Myers Squibb           to co-promote Bristol-Myers Squibb’s new fluoroquinolone
                                      antibiotic, Tequin (gatifloxacin), in the US for the treatment of
                                      respiratory tract infections
       Oscient Pharmaceuticals        whereby Genome Therapeutics will generate high-quality DNA
       (previously through Genome     sequence information in support of gene discovery projects at
       Therapeutics)                  Schering-Plough. Genome Therapeutics will employ its proprietary
                                      sequencing techniques, automation, bioinformatics and quality
                                      control procedures to generate sequence reads and provide analysis
                                      of the sequenced regions
       Oscient Pharmaceuticals      to extend an existing alliance, to identify and develop novel anti-
       (previously through Genome   infectives for drug-resistant bacteria including Staphylococcus
       Therapeutics)                aureus, a leading cause of hospital-acquired infections; the
                                    extended agreement carries the alliance to 30 September 2001.
                                    CONCLUDED
       Merck & Co                   to develop and market two potential blockbuster fixed-dose
                                    combination products in the cholesterol-lowering and respiratory
                                    categories in the US
       Valeant (previously ICN)     for a long-term strategic collaboration for the licensing of drugs for
                                    the treatment of hepatitis C and other indications. Schering-Plough
                                    has the right of first and last refusal to license two antiviral drugs
                                    currently in the Valeant research pipeline, levovirin and viramidine,
                                    and other compounds that Valeant may develop in infectious and
                                    other diseases
       Yuhan                        for exclusive South Korean distribution rights to Schering-Plough’s
                                    oncology product, ulexin (flutamide), Intron-A (interferon-α),
                                    Ethyol (amifostine)/antihypersensitive products, Renormyl
                                    (spirapril HCL)
       Texas Biotechnology          for a worldwide development and marketing deal, involving a new
                                    class of orally active asthma compounds, VLA-4 antagonists, worth
                                    up to $87 million to Texas Biotechnology
       Ono                          for exclusive development and marketing rights in Central and
                                    South America to the leukotriene antagonist, pranlukast. Schering-
                                    Plough will develop capsule and dry syrup formulations of the
                                    product for asthma, with Ono being responsible for all
                                    manufacturing
       Merck & Co                   (previously through NeoGenesis Pharmaceuticals) to identify and
                                    optimise chemical compounds for new drug discovery leads against
                                    multiple targets selected from important protein families across a
                                    broad range of therapeutic areas
2001   Genetech/Millennium          to co-promote Integrilin for non-ST-segment acute coronary
       (previously through Cor)     syndromes, as well as TNKasea (Tenecteplase) and Activase
                                    (Alteplase, recombinant) for acute ST-segment elevation
                                    myocardial infarction in hospitals across the US. In June 2004,
                                    Millennium reacquires the European marketing rights for Integrilin.
                                    Schering-Plough will continue to co-promote Integrilin with
                                    Millennium in the US and retains rights to the product in other
                                    territories outside of Europe (Press release, Schering-Plough, 23
                                    Jun 2004)
       Shionogi                     whereby Shionogi will co-market Schering-Plough's non-sedating
                                    once-daily antihistamine, Claritin (loratadine) in Japan
       Medarex                      to collaborate on the development of fully human antibody
                                    therapeutics for the treatment of chronic conditions, using
                                    Medarex's UltiMAb technology to generate antibodies against
                                    disease targets identified by Schering-Plough
       Roche                        for a cross-licensing deal designed to settle all patent disputes over
                                    the two companies' peginterferon products for the treatment of
                                    hepatitis C
       NeoGenesis Drug Discovery    to use NeoGenesis’ Automated Ligand Identification System
                                    (ALIS) to identify new small-molecule drug candidates
       Dainippon                    for the co-marketing in Japan of a metered-dose inhaler formulation
                                    of the anti-asthmatic, Qvar (beclometasone dipropionate)
       AtheroGenics                 whereby AtheroGenics re-acquires all rights to its lead candidate,
                                    AGI-1067, a small-molecule product with potential in the
                                    prevention and treatment of post-angioplasty restenosis
       Cognia Corporation           whereby Cognia licenses its Transpath Professional database to
                                    Schering-Plough
       Trine Pharmaceuticals          (previously through NeoGenesis Pharmaceuticals) to discover and
       (formerly Essential            develop new classes of antibiotics utilising a specified number of
       Therapeutics (previously       proprietary bacterial in vivo essential gene targets from Microcide's
       through Microcide))            VALID microbial genomics platform, together with NeoGenesis'
                                      proprietary ALIS screening system and its mass-coded NeoMorph
                                      small molecule libraries to identify and optimise chemical
                                      compounds with antibacterial activity
       UCB (previously through        (previously through NeoGenesis Pharmaceuticals) whereby
       Celltech (previously through   Celltech will provide a large number of potential protein targets it
       Oxford GlycoSciences))         has identified and NeoGenesis will apply its high-throughput
                                      integrated technologies for chemistry, screening and computational
                                      biology to search for lead compounds
       Biogen Inc                     (previously through NeoGenesis Pharmaceuticals) for a multi-year,
                                      multi-target research deal where NeoGenesis will assist on drug
                                      discovery across a broad range of therapeutic areas and Biogen will
                                      commercialise and market any drugs that result from the
                                      collaboration
       UCB (previously through        (previously through NeoGenesis Pharmaceuticals) whereby
       Celltech)                      NeoGenesis will use its proprietary chemical genomics technology
                                      to identify and optimise new chemical compounds as novel drug
                                      discovery leads against multiple disease targets within Celltech's
                                      core therapeutic areas. Celltech will be responsible for the
                                      commercialisation of all products arising from the collaboration
       Mitsubishi-Tokyo               (previously through NeoGenesis Pharmaceuticals) to discover
       Pharmaceuticals                small-molecule drug candidates for a high value therapeutic area.
                                      Mitsubishi-Tokyo Pharmaceuticals will pay NeoGenesis for
                                      discovery as well as traditional milestones and royalties on products
                                      resulting from the collaboration. In September 2002, NeoGenesis
                                      earns a milestone payment by successfully delivering high quality
                                      lead molecules for a difficult target provided by Mitsubishi Pharma.
                                      EXPANDED SEPTEMBER 2002 whereby NeoGenesis will
                                      further optimise the lead compounds
       Tranzyme                       (previously through NeoGenesis Pharmaceuticals) in the areas of
                                      gene expression and protein function discovery which will utilise
                                      Tranzyme's recently introduced TExT (Trans Expression
                                      Technology) in support of the chemical genomics program at
                                      NeoGenesis. EXPANDED NOVEMBER 2003 to include
                                      additional genes of therapeutic interest
       Amgen (previously through      (previously through NeoGenesis Pharmaceuticals) to discover small
       Tularik)                       molecule drug candidates in multiple therapeutic areas where
                                      Tularik will provide disease targets to which NeoGenesis will apply
                                      its drug discovery technologies. The companies will share equally
                                      in the development and potential profits from future drug
                                      candidates that they jointly discover against certain targets
       Immusol                        (previously through NeoGenesis Pharmaceuticals) to discover small
                                      molecule drug candidates for the treatment of HIV whereby
                                      Immusol will provide novel, biologically validated HIV cellular
                                      drug targets to which NeoGenesis will apply its drug discovery
                                      technologies
2002   Exelixis                       for a collaboration to create customised compound libraries for use
                                      in the two companies' internal research programmes. Exelixis will
                                      use its chemistry technology to generate the libraries of
                                      compounds, which will be jointly designed by the two parties
       Gene Logic                     for a GeneExpress CustomSuite database access deal for use in its
                                      pharmaceutical research and development operations. In addition,
                                      Schering-Plough Research Institute and Gene Logic will engage in
                                      a pilot toxicity study
Human Genome Sciences        whereby Schering-Plough acquires exclusive rights to develop and
                             commercialise two human antibodies from Human Genome
                             Sciences’ technology. Human Genome Sciences will receive
                             milestone payments and royalties on sales from products that may
                             result from research on each of the two antibodies
Amsterdam Molecular          whereby AMT licenses rights to Schering-Plough's interleukin-10
Therapies (AMT)              patent intending to use the patent portfolio to expand the scope of
                             its IL-10 ex vivo gene therapy for the maintenance of remission in
                             Crohn's disease
Enzon                        whereby Enzon is entitled to royalties on worldwide sales of Peg-
                             Intron. Schering-Plough holds an exclusive worldwide license to
                             Peg-Intron
Affymetrix                   for an EasyAccess Silver program under which SPRI will gain
                             broad access to Affymetrix' standard and custom GeneChip arrays,
                             instrumentation and software to monitor gene expression for use in
                             biopharmaceutical research and development activities
Novartis                     whereby Schering-Plough gains the marketing and distribution
                             rights to Leucomax (molgramostim) and the licensing rights to
                             Foradil Aerolizer (formoterol fumarate inhalation powder)
ALK-Abello                   in October, to conduct a clinical trial of an ALK-Abelló tablet-
                             based immunotherapy for the treatment of allergy symptoms caused
                             by grass pollens. Schering-Plough will co-develop the grass-pollen
                             allergy tablet and all other non-injectable allergy products in ALK-
                             Abelló’s research pipeline. TERMINATED DECEMBER 2003
                             whereby ALK-Abelló reacquires the exclusive worldwide rights to
                             these products (Press release, Schering-Plough, 16 Dec 2003)
Triad Therapeutics           to discover new antifungal compounds whereby Triad will use its
                             technologies to generate small-molecule drug candidates based on
                             the oxidoreductase gene family to inhibit a target provided by
                             SPRI. SPRI will pay Triad an up-front payment and may make
                             further milestone and royalty payments if it chooses to develop any
                             compounds discovered
Pharmagene                   for two years, whereby SPRI will gain access to the Pharmagene
                             TargetEvaluator database and will also be able to nominate genes
                             for profiling in specific human-diseased tissues from a range of
                             patient types on an exclusive basis
Insert Therapeutics          through Canji, for a research collaboration for the targeted delivery
                             of therapeutic genes to cancer cells in vivo
CIMA LABS (Cephalon)         for a product development, licence and supply deal for a
                             prescription product that will utilise CIMA's OraSolv fast-dissolve
                             drug delivery system
Sanofi-Aventis (previously   (previously through NeoGenesis Pharmaceuticals) for a multi-year
through Aventis)             collaboration to attempt to identify novel therapeutic agents for the
                             treatment of infectious diseases. NeoGenesis will use its Chemical
                             Genomics technologies to attempt to identify compounds that
                             exhibit a high degree of binding affinity for Aventis' drug targets
                             and will optimise and validate any biologically active compounds
                             identified through the collaboration
Active Pass                  (previously through NeoGenesis Pharmaceuticals) to discover and
                             develop drugs that target ABC transporters
Massachusetts General        (previously through NeoGenesis Pharmaceuticals) to discover and
Hospital                     develop new drugs that target cancer and inflammatory diseases.
                             MGH will supply NeoGenesis with proteins believed to play
                             important roles in oncology and inflammatory diseases.
                             NeoGenesis will apply its NeoMorph 10 million compound
                             libraries and its proprietary Automated Ligand Identification
                             System (ALIS) to these targets to discover small molecule drug-like
                             compounds exhibiting high affinity and selectivity against the
                             target proteins
       Pfizer                   (previously through NeoGenesis Pharmaceutials) to discover and
                                develop new drugs that target certain human diseases. Pfizer will
                                supply NeoGenesis with proteins believed to play important roles in
                                human disease. NeoGenesis will apply its NeoMorph compound
                                libraries and its proprietary Automated Ligand Identification
                                System (ALIS) to these targets with the goal to discover and
                                optimise small molecule drug-like compounds exhibiting high
                                binding affinity and selectivity for the target proteins. Pfizer will
                                manage all development activity for drug leads identified by
                                NeoGenesis
2003   Pharmagene               to grant SPRI access to its target validation technology,
                                TargetEvaluator. SPRI will be able to use the human tissue-based
                                gene expression database for the next two years to validate its own
                                targets as well as nominating genes for profiling in specific human
                                diseased tissues from a range of patient types
       Three Rivers             in February, whereby Schering-Plough licenses US patents on its
       Pharmaceuticals          ribavirin hepatitis C therapy, Rebetol
       Teva Pharmaceuticals     in March, to grant a non-exclusive, non-sublicensable licence to its
                                US ribavirin patents. Teva will pay Schering Plough a royalty on
                                their respective ribavirin sales
       Geneva Pharmaceuticals   in March, to grant a non-exclusive, non-sublicensable licence to its
                                US ribavirin patents. Geneva will pay Schering Plough a royalty on
                                their respective ribavirin sales
       Novartis                 in April, to jointly develop and market worldwide a combination of
                                Asmanex (mometasone furoate) and Foradil (formoterol fumarate)
                                in a single inhalation device for the treatment of asthma and chronic
                                obstructive pulmonary disease
       Amgen                    (previously through NeoGenesis Pharmaceuticals) in August, for a
                                multi-year research and discovery collaboration focusing on the
                                discovery of small molecule drugs aimed at certain human diseases,
                                including cancer, neurodegenerative and inflammatory diseases.
                                NeoGenesis will use its drug discovery technologies, including its
                                proprietary ALIS (Automated Ligand Identification System)
                                platform, NeoMorph compound libraries and lead optimisation
                                technologies to discovery drug candidates against selected targets
                                (Scrip Daily Online, 8 Aug 2003, S00811608)
       Pharmacopeia             in September, whereby Pharmacopeia uses its internal compound
                                library to identify new drug candidates against multiple therapeutic
                                targets from Schering-Plough's R&D programs. In October 2004, a
                                research milestone is triggered after Schering-Plough initiates
                                preclinical development of a drug candidate (Press release,
                                Schering-Plough, 5 Oct 2004). In November 2004, a research
                                milestone is reached in the oncology therapeutic area, triggering a
                                payment to Pharmacopeia (Press release, Schering-Plough, 30 Nov
                                2004). In April 2005, a research milestone is triggered after
                                Schering-Plough initiates preclinical development of a novel small
                                molecule drug candidate (Press release, Schering-Plough, 13 Apr
                                2005)
       Helsinn Healthcare       in October, whereby Schering-Plough acquires exclusive rights in
                                Latin America, Australia, New Zealand and the Caribbean to
                                develop and commercialise Helsinn’s palonosetron, for the
                                prevention of nausea and vomiting in chemotherapy patients.
                                Schering-Plough will be responsible for product commercialisation
                                and will pay Helsinn an upfront licence fee, royalties on sales and
                                subsequent milestone payments (Scrip Daily Online, 3 Oct 2003,
                                S00818594)
       Andrx                         in October, to settle patent litigation related to Andrx's generic
                                     version of Schering-Plough’s Claritin-D 24 Hour Extended Release
                                     Tablets. Under terms of the agreement, Schering-Plough has
                                     provided a licence to a relevant patent pertaining to Claritin-D 24
                                     Hour Extended Release Tablets to Andrx
       ViroPharma                    in November, to license ViroPharma's intranasal formulation of the
                                     antiviral compound pleconaril to Schering-Plough for the treatment
                                     of the common cold in the US and Canada. Schering-Plough will
                                     pay ViroPharma an upfront option fee of $3 million. EXTENDED
                                     AUGUST 2004 (Scrip Daily Online, 27 Aug 2004, S00855342). In
                                     December 2004, Schering-Plough assumes responsibility for all
                                     future development and commercialisation of pleconaril and pays
                                     ViroPharma an initial licence fee of $10 million (Press release,
                                     Schering-Plough, 3 Dec 2004). In January 2005, Schering-Plough
                                     purchases the existing inventory of pleconaril bulk drug substance
                                     for $6 million (Press release, Schering-Plough, 12 Jan 2005)
2004   Toyama                        in June, for a definitive licence for garenoxacin (T-3811), Toyama's
                                     proprietary quinolone antibacterial agent. Toyama grants to
                                     Schering-Plough exclusive rights to develop, use and sell
                                     garenoxacin worldwide, excluding Japan, Korea and China (Press
                                     release, Schering-Plough, 22 Jun 2004)
       Achaogen                      (previously through NeoGenesis Pharmaceuticals) in August, for a
                                     research and discovery collaboration whereby NeoGenesis will use
                                     its unique drug discovery technologies, including its proprietary
                                     ALIS (Automated Ligand Identification System) platform,
                                     NeoMorph compound libraries, and lead optimisation technologies
                                     to discover drug candidates against selected targets (Press release,
                                     Schering-Plough, 26 Aug 2004)
       Shionogi USA                  in August, to market and distribute Cedax in the US (Press release,
                                     Schering-Plough, 27 Aug 2004)
       Bayer                         in September, whereby Schering-Plough acquires exclusive rights
                                     to market, sell and distribute Bayer's primary care products Avelox
                                     (moxifloxacin HCl) and Cipro (ciprofloxacin HCl) in the antibiotics
                                     category and will undertake on behalf of Bayer the US
                                     commercialisation activities for the erectile dysfunction medicine
                                     Levitra (vardenafil HCl) under Bayer's co-promotion agreement
                                     with GlaxoSmithKline. Bayer will support the promotion of certain
                                     Schering-Plough oncology products in the US and key European
                                     markets for a defined period of time (Press release, Schering-
                                     Plough, 13 Sep 2004)
       Shionogi                      in November, to jointly market Claritin RediTabs Tablet, a rapidly-
                                     disintegrating tablet used in the treatment of allergy on a
                                     nationwide scale (Press release, Schering-Plough, 16 Nov 2004)
       Themis Medicare               in December, with Schering-Plough’s animal health business unit,
                                     for a new drug delivery system. Themis transfers patent rights to
                                     Schering and provides its "technical know-how" and raw materials
                                     for developing products which will be marketed in other countries
                                     (Press release, Schering-Plough, 3 Dec 2004)
2005   PediaMed                      in February, to co-promote a respiratory treatment to the paediatric
                                     medical community in the US (Press release, Schering-Plough, 22
                                     Feb 2005)
       Southern Research Institute   in May, to discover novel compounds as potential new products to
                                     treat infectious disease (Press release, Schering-Plough, 9 May
                                     2005)
       ViroLogic                     in July, through Schering-Plough Research Institute, to use
                                     ViroLogic's novel HIV resistance testing technology to support
                                     Schering-Plough's drug discovery and development programmes in
                                     a deal worth $4.8 million (Press release, ViroLogic, 6 Jul 2005)
             Migenix                            in July, whereby Schering-Plough supply Pegetron (peginterferon
                                                alfa-2b powder for solution plus ribavirin 200 mg capsules) and
                                                provide certain technical and laboratory support and other services
                                                for Migenix' upcoming MX-3253 Phase II combination study in
                                                chronic HCV patients. Schering-Plough also receive limited periods
                                                of exclusivity for data review of clinical trial results (Press release,
                                                Migenix, 13 Jul 2005)
Updated by LH on 14/07/2005.


Financial figures

Summary (US$ million)

Year ended Dec                2005(3m)              2004                2003         2002         2001           2000
Net sales                      2,369.00          8,272.00            8,334.00    10,180.00    9,802.00        9,815.00
R&D expenditure                 384.00           1,607.00            1,469.00     1,425.00    1,312.00        1,333.00
Net income (loss)               127.00            (947.00)             (92.00)    1,974.00    1,943.00        2,423.00
EPS                                0.07             (0.67)              (0.06)        1.34        1.32            1.64
Total assets                  14,921.00         15,911.00           15,102.00    14,136.00   12,174.00      10,805.00



Net Sales by Major Therapeutic Category (US$ million)

Year ended Dec                2005(3m)              2004                2003         2002         2001
Global pharmaceuticals         1,846.00          6,417.00            6,672.00     8,788.00    8,369.00
Other pharmaceuticals           430.00           1,522.00             597.00        764.00      656.00
Foot Care                        84.00            331.00              275.00        290.00      310.00
Over-the-counter (OTC)          162.00            578.00              563.00        275.00      188.00
Sun Care                         84.00            176.00              127.00        193.00      208.00



Key Product Sales (US$ million)

Year ended Dec                2005(3m)              2004                2003         2002         2001
                 1
Intron franchise                143.00            881.00             1,851.00     2,736.00    1,447.00
Remicade                        220.00            746.00              540.00        337.00      166.00
                                           *                *
Clarinex                        144.00            692.00              694.00        598.00         -
Nasonex                         183.00            594.00              500.00        523.00      524.00
PEG-Intron                      170.00            563.00                 -            -            -
Temodar                         131.00            459.00              324.00        278.00      180.00
Integrilin                       75.00            325.00              306.00        304.00      231.00
Claritin Rx                     111.00            321.00              370.00      1,260.00    2,285.00
Intron A                         73.00            318.00                 -            -            -
Caelyx                           43.00            150.00              111.00          -            -
                                   #                 #
Proventil                                                             125.00        128.00      230.00
1                                      *                        #
    Includes PEG-Intron and Intron A       Clarinex / Aerius        Figures unavailable
In March 2000, Schering-Plough completed a $1 billion share repurchase program and initiated a new $1.5
billion share repurchase program.
In November 2003, the company completed the offering of $1.25 billion aggregate principal amount of 5.3%
senior noted due 2013 and $1.15 billion aggregate principal amount of 6.5% senior notes due 2033 in an
underwritten registered public offering.
Updated by EW on 21/04/2005.


Number of Projects in R&D (summary)

Launched                    22      Phase III Clinical Trial    3        Preclinical                 15
Registered                   1      Phase II Clinical Trial     4
Pre-registration             2      Phase I Clinical Trial      2

Number of Projects in R&D (detail)

Drug Name                                 Main therapy                         Main therapy status

Alimentary/Metabolic Products (2)

MCH-1 receptor antags, S-P                Anorectic/Antiobesity                Preclinical
PTP-1b inhibitors,Schering-Pl             Antidiabetic                         Preclinical

Anti-infective Products (8)

ribavirin + \a-interferon, SP             Antiviral, other                     Launched
thymalfasin                               Immunomodulator, anti-infective      Launched
moxifloxacin                              Quinolone antibacterial              Launched
posaconazole                              Antifungal                           Pre-registration
pleconaril                                Antiviral, other                     Phase III Clinical Trial
garenoxacin                               Quinolone antibacterial              Phase III Clinical Trial
SCH-D                                     Antiviral, anti-HIV                  Phase II Clinical Trial
NMT inhibitors, S-P                       Antifungal                           Preclinical

Anticancer Products (12)

temozolomide                              Anticancer, alkylating               Launched
toremifene                                Anticancer, hormonal                 Launched
amifostine                                Radio/chemoprotective                Launched
palonosetron                              Radio/chemoprotective                Launched
Sch-57050                                 Anticancer, hormonal                 Phase III Clinical Trial
lonafarnib                                Anticancer, other                    Phase II Clinical Trial
Akt-1 inhibitors, S-P                     Anticancer, other                    Preclinical
fatty acid synthase inhibs,S-P            Anticancer, other                    Preclinical
hormone modulators, S-P                   Anticancer, other                    Preclinical
kinase inhibitors, Schering-Pl            Anticancer, other                    Preclinical
PS-095760                                 Anticancer, other                    Preclinical
transcription factor mods, S-P            Anticancer, other                    Preclinical

Biotechnology Products (4)

infliximab                                Monoclonal antibody, chimaeric       Launched
interferon, Biogen (\b1a)                 Recombinant interferon               Launched
interferon gene therapy, Canji            Gene therapy                         Preclinical
Pharmaprojects No. 5297                   Genomics-based drug discovery        Preclinical
Drug Name                               Main therapy                        Main therapy status

Blood and Clotting Products (1)

PAR-1 receptor antagonists, SP          Antithrombotic                      Preclinical

Cardiovascular Products (2)

eptifibatide                            Antianginal                         Launched
ezetimibe                               Hypolipaemic/Antiatherosclerosis    Launched

Formulations (9)

interferon, Enzon (\a2b)                Formulation, conjugate, pegylated   Launched
ezetimibe + simvastatin                 Formulation, fixed-dose             Launched
                                        combinations
mometasone furoate, DPI                 Formulation, inhalable, dry         Launched
                                        powder
mometasone furoate, nasal               Formulation, inhalable, solution    Launched
doxorubicin, Stealth                    Formulation, optimized, liposomes   Launched
progesterone, Schering-Plough           Formulation, optimized,             Launched
                                        microencapsulate
loratadine, Zydis                       Formulation, oral, orally-          Launched
                                        disintegrating
formoterol, SkyePharma                  Formulation, inhalable, dry         Registered
                                        powder
histamine dihydrochloride,Maxi          Formulation, other                  Pre-registration

Genitourinary (including sex hormones) (2)

vardenafil                              Male sexual dysfunction             Launched
dasantafil                              Male sexual dysfunction             Phase II Clinical Trial

Musculoskeletal Products (2)

PS-291822                               Anti-inflammatory                   Phase I Clinical Trial
CB2 inverse agonists, Schering          Anti-inflammatory                   Preclinical

Neurological Products (3)

felbamate                               Antiepileptic                       Launched
Sch-63390                               Antiparkinsonian                    Phase II Clinical Trial
BACE inhibitors, S-P                    Cognition enhancer                  Preclinical

Respiratory Products (4)

desloratadine                           Antiallergic, non-asthma            Launched
pranlukast                              Antiasthma                          Launched
PS-938285                               Respiratory                         Phase I Clinical Trial
TBC-4746                                Antiasthma                          Preclinical


Marketed pharmaceutical products (originated)

Drug Name                               Brand Name                          Main therapy

Anti-infective Products (3)

clotrimazole+betameth+gentami           Triderm                             Antifungal
Drug Name                           Brand Name                 Main therapy

isepamicin                          Isepacin                   Aminoglycoside antibiotic
netilmicin                          Netromycin                 Aminoglycoside antibiotic

Anticancer Products (1)

flutamide                           Drogenil                   Anticancer, hormonal

Cardiovascular Products (2)

ezetimibe                           Zetia                      Hypolipaemic/Antiatherosclerosis
spirapril                           Renormax                   Antihypertensive, renin system

Dermatological Products (2)

alclometasone dipropionate          Delonal                    Antipruritic/inflamm, allergic
mometasone furoate                  Elocon                     Antipruritic/inflamm, allergic

Formulations (11)

clotrimazole + betamethasone        Lotriderm                  Formulation, fixed-dose
                                                               combinations
ezetimibe + simvastatin             Zintrepid                  Formulation, fixed-dose
                                                               combinations
interferon, Schering-P (\a2b)       Viraferon                  Formulation, parenteral, other
mometasone furoate, DPI             Asmanex Twisthaler         Formulation, inhalable, dry
                                                               powder
mometasone furoate, nasal           Nasonex AQ                 Formulation, inhalable, solution
naproxen, Key                       naproxen, Key              Formulation, modified-release,
                                                               other
nitroglycerin, Key                  Nitro-Dur                  Formulation, transdermal, patch
progesterone, Schering-Plough       Prometrium                 Formulation, optimized,
                                                               microencapsulate
ribavirin+PEG-interferon(\a2b)      PEG-Intron A + ribavirin   Formulation, fixed-dose
                                                               combinations
theophylline, Key                   Theo-Dur                   Formulation, modified-release,
                                                               other
theophylline, Schering-Plough       Uni-Dur                    Formulation, other

Neurological Products (2)

halazepam                           Paxipam                    Anxiolytic
quazepam                            Selepam                    Hypnotic/Sedative

Respiratory Products (1)

loratadine                          Clarityn                   Antiallergic, non-asthma


Marketed pharmaceutical products (licensed in)

Drug Name                           Brand Name                 Main therapy

Anti-infective Products (9)

ceftezole                           Alomen                     Cephalosporin, injectable
ceftibuten                          Cedax                      Cephalosporin, oral
ciprofloxacin                       Cipro                      Quinolone antibacterial
Drug Name                               Brand Name                    Main therapy

clotrimazole                            Lotrimine                     Antifungal
fenticonazole                           Lomexin                       Antifungal
moxifloxacin                            Avelox                        Quinolone antibacterial
ribavirin                               Rebetol                       Antiviral, other
ribavirin + \a-interferon, SP           Rebetol Combination Therapy   Antiviral, other
sisomicin                               Sisomin                       Aminoglycoside antibiotic

Anticancer Products (4)

amifostine                              Ethyol                        Radio/chemoprotective
temozolomide                            Temodal                       Anticancer, alkylating
toremifene                              Fareston                      Anticancer, hormonal
vinorelbine                             Navelbine                     Anticancer, other

Biotechnology Products (5)

alteplase                               Activase                      Recombinant, other
infliximab                              Remicade                      Monoclonal antibody, chimaeric
interferon, Biogen (\a2b)               Intron-A                      Recombinant interferon
interferon, Biogen (\b1a)               Avonex                        Recombinant interferon
molgramostim                            Leucomax                      Recombinant growth factor

Cardiovascular Products (4)

eptifibatide                            Integrilin                    Antianginal
labetalol                               Normodyne                     Antihypertensive, adrenergic
nifedipine                              Adalat                        Vasodilator, coronary
propionyl L-carnitine, Sigma            Dromos                        Vasodilator, peripheral

Formulations (7)

doxorubicin, Stealth                    Caelyx                        Formulation, optimized, liposomes
interferon, Enzon (\a2b)                ViraFeronPeg                  Formulation, conjugate, pegylated
isosorbide mononitrate, Hassle          Imdur                         Formulation, modified-release,
                                                                      <=24hr
isosorbide mononitrate, Roche           Monosorb                      Formulation, other
loratadine, Zydis                       Claritin RediTabs             Formulation, oral, orally-
                                                                      disintegrating
sucralfate, APR                         Crafilm                       Formulation, oral, other
theophylline, KV                        theophylline, KV              Formulation, modified-release,
                                                                      other

Genitourinary (including sex hormones) (3)

promestriene                            Colpotrophine                 Reproductive/gonadal, general
propiverine hydrochloride               Detrunorm                     Urological
vardenafil                              Levitra                       Male sexual dysfunction

Musculoskeletal Products (1)

nimesulide                              Scaflam                       Anti-inflammatory

Neurological Products (3)

buprenorphine                           Temgesic                      Analgesic, other
felbamate                               Taloxa                        Antiepileptic
Drug Name                                    Brand Name                             Main therapy

selegiline                                   Deprenyl                               Antiparkinsonian

Respiratory Products (4)

desloratadine                                Neoclarityn                            Antiallergic, non-asthma
formoterol                                   Atock                                  Antiasthma
pranlukast                                   Azlaire                                Antiasthma
salbutamol                                   Proventil                              Antiasthma



2003 Additional news

July

 Schering-Plough announces a new organisational structure for its Global Pharmaceutical Business (GPB),
  consolidating several previously autonomous prescription pharmaceutical business units into a unified,
  globally integrated operation. The new GPB structure focuses on key products, countries and customer groups.
  (Press release, Schering-Plough, 7 Jul 2003)

August

 Schering-Plough slashes its quarterly dividend by 68% and plans to cut at least 1,000 jobs. The company also
  intends to end some executive perks, such as bonuses, in an attempt to boost the company’s financial status.
  The cost cutting plans are expected to deliver in excess of $200 million in annual savings. (Press release,
  Schering-Plough, 20 Aug 2003)

December

 Schering-Plough resizes the company based on greater centralisation of certain functions, improving process
  efficiencies and other actions. These efforts build on previously announced key actions to stabilise and repair
  Schering-Plough and set a solid foundation for the future. Schering-Plough's Value Enhancement Initiative
  (VEI), which helps the company save and spend wisely as the company is revitalised, is expected to deliver in
  excess of $200 million in annual cost savings that will generate funds for reinvestment into the business and
  help drive earnings. (Press release, Schering-Plough, 4 Dec 2003)



2004 Additional news

January

 Schering-Plough announces that about 170 jobs are to be discontinued at Schering-Plough (Brinny) Company
  at Brinny, Innishannon, Co Cork, bringing site numbers to 762. The reduction in jobs is due to a decrease in
  demand for the company's main product, coupled with the recent announcement by Schering-Plough
  Corporation of a 10% reduction in payroll expenses worldwide. (Press release, Schering-Plough, 7 Jan 2004)l

May

 Schering-Plough announces plans to develop its 88-acre site in Summit for office space and R&D use in
  conjunction with consolidating several of its other New Jersey facilities. (Press release, Schering-Plough, 26
  May 2004)
December

 Schering-Plough KK completes a project to expand its production plant in Shiga, Japan, which supplies
  Schering-Plough products in Japan. The company has also completed renovation of existing manufacturing
  buildings. (Press release, Schering-Plough, 20 Dec 2004)



2005 Additional news

January

 Schering-Plough announces the sale of its Madison, NJ office building to Reckson Associates Realty Corp.
  Schering-Plough says the Madison sale represents a further step in the company's New Jersey real estate
  strategy and plans to develop its 88-acre site in Summit, NJ. (Press release, Schering-Plough, 14 Jan 2005)

February

 Schering Plough announces up to 240 lay-offs at its three plants in Ireland. Schering Plough has operations in
  Brinny, Co Cork, and in Bray and Rathdrum in Co Wicklow. (Press release, Schering-Plough 3 Feb 2005)

May

 Schering-Plough creates a new Schering-Plough Biopharma unit. The Biopharma operations will be fully
  integrated with the core pharmaceutical R&D organisation of the company in order to help assure a seamless
  and efficient overall product flow process. Schering-Plough Biopharma will be formed through the integration
  of the company's two West Coast research facilities into one site. The new Biopharma unit will be based at the
  current DNAX laboratories in Palo Alto. (Press release, Schering-Plough, 3 May 2005)

July

 Schering-Plough opens commercial operations in Korea and Pakistan. The actions are part of a long-term
  strategy to build strength in its Asia Pacific region. Schering-Plough Korea is now headquartered in the capital
  city of Seoul, and Schering-Plough Pakistan is now headquartered in Islamabad. (Press release, Schering-
  Plough, 6 Jul 2005)

 Updated by EW on 06/07/2005.