PREVENTION OF NECROTIC ENTERITIS USING C. PERFRINGENS

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slide 1:

August 2008 Schering-Plough Corporate Overview

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08/07/08 2 Disclosure Notice Disclosure Notice Disclosure Notice This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including statements about Schering-Plough’s business and prospects. Actual results may differ materially from these forward-looking statements. Schering- Plough does not assume the obligation to update any forward-looking statement. For further details about risks and uncertainties that may affect forward-looking statements see Schering-Plough’s SEC filings including Part II Item 1A Risk Factors in the Company’s second quarter 10-Q. Additionally during this presentation we may refer to non-GAAP measures including adjusted net sales or adjusted top-line sales and as-reconciled EPS. We define adjusted net sales as our GAAP net sales plus an assumed 50 sales contribution from our cholesterol joint venture. You should refer to the non-U.S. GAAP reconciliation tables on our Investor Relations website in the financial highlights section. This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including statements about Schering-Plough’s business and prospects. Actual results may differ materially from these forward-looking statements. Schering- Plough does not assume the obligation to update any forward-looking statement. For further details about risks and uncertainties that may affect forward-looking statements see Schering-Plough’s SEC filings including Part II Item 1A Risk Factors in the Company’s second quarter 10-Q. Additionally during this presentation we may refer to non-GAAP measures including adjusted net sales or adjusted top-line sales and as-reconciled EPS. We define adjusted net sales as our GAAP net sales plus an assumed 50 sales contribution from our cholesterol joint venture. You should refer to the non-U.S. GAAP reconciliation tables on our Investor Relations website in the financial highlights section. Link to: Historical non-GAAP Reconciliation Tables Current non-GAAP Reconciliation Tables

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Corporate Overview 3 About Schering-Plough • Global health care company with three integrated businesses: – Pharmaceutical – Animal Health – Consumer Health Care • Business research manufacturing and sales operations in more than 140 countries • Approximately 55000 colleagues worldwide at December 31 2007 • 2007 Adjusted Net Sales: 15.2 Billion Includes assumed 50 contribution from joint venture sales of VYTORIN and ZETIA. Also includes 626 million of Organon BioSciences net sales for the period as of the closing date of the acquisition on Nov. 19 2007 through Dec. 31 2007.

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August 2008 Schering-Plough Our History

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Corporate Overview 5 Key Events in our History • Late 1800s: German-based Schering AG formed a U.S.-based subsidiary • 1908: Plough Chemical Company was formed in Memphis • 1923: Organon founded in Oss the Netherlands • 1928: Schering Corporation was incorporated in New York City • World War II: The U.S. Government severed the relationship between Schering AG and Schering Corporation and maintained control of Schering Corporation until 1952 when the company went public • 1949: Nobilis animal health business founded in Boxmeer the Netherlands • 1969: Nobilis changes name to Intervet • 1971: Schering Corporation and Plough Inc. merged • 2003: Schering-Plough began a transformational change from a decentralized holding company to a centralized global operation • 2007: Schering-Plough purchases Organon BioSciences Organon Intervet from Akzo Nobel. Global integration begins

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August 2008 Schering-Plough Building a New Kind of Health Care Company

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Corporate Overview 7 Our Vision: The Context and Meaning for our Work To earn trust every day. We aspire to earn the trust of doctors patients customers and other stakeholders as a champion for them and as a company that provides them with a steady flow of science-based medicines and services. By earning trust we will build growth.

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Corporate Overview 8 Our Mission: Delivering our Vision To work to become: • The innovation quality and service leader • The most effective company in our industry at managing product flow • The best-managed company • The most improved company in our industry • Known for our leadership edge achieved by our passion for excellence

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Corporate Overview 9 The Action Agenda: Our Road Map for Transformation • The Action Agenda is the road map to transform Schering-Plough into a high-performance global company for the long term • Announced by incoming CEO Fred Hassan in the spring of 2003 the Action Agenda is a six- to eight-year plan with five overlapping phases we are currently in the fourth “Build the Base” phase • The Action Agenda is anchored on the principles of “New Thinking New Capabilities and New Urgency”

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Corporate Overview 10 Action Agenda: New Thinking New Capabilities New Urgency Beginning Announced 10/24/05 Announced 4/21/03 Beginning Announced 10/20/06

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Corporate Overview 11 Three Integrated Customer Segments: Building Broad-Based Product Diversity • Each unit operates with its own business logic within a shared culture – using shared resources wherever possible. 1H’08 Millions Human Rx Sales 7259 Animal Health Sales 1540 Consumer Health Sales 778

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Corporate Overview 12 Building Broad-Based Geographic Diversity of GAAP Sales 1H’08 Growth Rate: 1H’08 vs. 1H’07 • U.S. +22 • Europe/Canada +83 • Latin America +58 • Asia Pacific/Japan +72 1H’08 includes sales from Organon Biosciences of 2.8 billion. Excluding the OBS sales 1H’08 stand-alone S-P sales would show 11 growth. 49 10 11 30 Europe/ Canada Latin America Asia Pacific/ Japan USA

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August 2008 Schering-Plough Our Products

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Corporate Overview 14 Improving Extending and Saving Human Life: Key Human Prescription Pharmaceuticals

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Corporate Overview 15 Human Rx: Key Therapy Areas • Cardiovascular Disease –Zetia –Vytorin – Integrilin • Central Nervous System – Remeron – Zemeron • Immunology and Infectious Disease –Remicade – Peg-Intron/Rebetol –Noxafil • Oncology – Temodar –Caelyx • Respiratory – Asmanex –Clarinex – Nasonex • Women’s Health – NuvaRing – Follistim – Implanon – Cerazette

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Corporate Overview 16 Human Rx: Global Sales of Major Products 1H’08 1H’08 Millions Change vs. 1H’07 VYTORIN 1 1233 -5 ZETIA 1 1166 1 REMICADE 1064 39 NASONEX 618 7 TEMODAR 487 18 CLARINEX 454 - PEGINTRON 454 1 FOLLISTIM/PUREGON 308 OBS Acquired CLARITIN Rx 239 11 NUVARING 212 OBS Acquired AVELOX 209 10 1 Vytorin and Zetia sales include sales under the Merck/Schering-Plough joint venture plus any sales that are not part of the joint venture such as Schering-Plough sales of cholesterol products in Latin America and Japan.

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Corporate Overview 17 Sugammadex: Major Advance in the Field of Anesthesia • First major new approval following the acquisition of Organon BioSciences • First major advance in anesthesia in two decades • Approved in European Union

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Corporate Overview 18 Research Development: Advancing the Science of Life • 2007 RD Investment of 2.9 billion • Research facilities in the United States Switzerland Italy the Netherlands Scotland Germany Japan and France • Areas of therapeutic focus: – Cardiovascular Disease – Central Nervous System – Immunology and Infectious Disease – Oncology – Respiratory – Women’s Health Includes 111 million in RD investment for OBS for the period as of the closing date of the acquisition on Nov. 19 2007 through Dec. 31 2007.

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Corporate Overview 19 An Exciting Phase II Pipeline Adenosine 2a Receptor Antagonist Parkinson’s Disease AMPAkine Depression Boceprevir 1 Hepatitis C CXCR2 Receptor Antagonist COPD Glycine Uptake Inhibitor Schizophrenia Pleconaril Common Cold Asthma Exacerbations QAB/Mometasone Combination Asthma COPD Rolapitant Emesis NOXAFIL I.V. Formulation TEMODAR Brain Metastases Variety of Solid Tumors Value Adding Projects Sublingual Tablet-Based Immunotherapy 2 Dust Mite Allergies Ragweed Allergies Topical Antifungal Onychomycosis June 2008 New Entities 1 Boceprevir will remain in Phase II until patient dosing commences in the Phase III trial 2 North American rights only

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Corporate Overview 20 One of the strongest Phase III Pipelines in the Industry Acadesine Ischemia-Reperfusion Injury Corifollitropin alfa Controlled Ovarian Stimulation Esmirtazapine Insomnia Hot Flashes Golimumab CNTO 148 1 Ulcerative Colitis Mometasone/Formoterol Combination Asthma COPD NOMAC/E 2 Contraceptive Sublingual Tablet-Based Immunotherapy 3 Grass Pollen Allergies Thrombin Receptor Antagonist Acute Coronary Syndrome Secondary Prevention Vicriviroc INTEGRILIN Early Acute Coronary Syndrome NASONEX Rhinosinusitis TEMODAR Metastatic Melanoma VYTORIN 2 - Outcomes Trials SEAS - Aortic Stenosis SHARP - Renal Disease IMPROVE-IT - Acute Coronary Syndrome 1 Rights are for outside of the U.S. Japan and certain Asian markets 2 J.V. with Merck 3 North American rights only Value Adding Projects New Entities HIV Infection June 2008

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Corporate Overview 21 Delivering a Steady Flow of Science-Based Medicines: Regulatory Application Filed Asenapine Schizophrenia U.S. Bipolar Mania Disorder U.S. Golimumab CNTO 148 1 Rheumatoid Arthritis Ankylosing Spondylitis Psoriatic Arthritis Sugammadex 2 Anesthesia U.S. Japan New Entities ASMANEX Asthma Japan NOXAFIL Serious Fungal Infections U.S. PEGINTRON Malignant Melanoma U.S. EU REMERON Anti-depressant Japan TEMODAR I.V. Formulation U.S. EU Value Adding Projects 1 Rights are for outside of the U.S. Japan and certain Asian markets 2 Received a not approvable letter in the U.S. on July 31 2008 June 2008

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Corporate Overview 22 Customer-Centered Product Flow CCPF • Putting our customers at the heart of everything we do • Our core work process • RD and commercial leadership jointly determine future of compounds • Shared accountability for success • Solid proof of concept required • Customers at center of all actions

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Corporate Overview 23 We Operate Manufacturing Sites in 24 Countries Around The World Supported by Global Functions: Engineering Environmental/ Health/Safety Technical Services Procurement/ Sourcing Materials Management Human Health site Animal Health site

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Corporate Overview 24 Quality and Compliance are an Integral Part of our Culture at all Manufacturing Sites Our quality values: • Senior Management Involvement Governance • Increased Organizational Capability • Quality Systems Thinking • A Culture of Continuous Quality Improvement

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Corporate Overview 25 A Trusted Source for Animal Health Solutions

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Corporate Overview 26 Amounts Reported in US Billions. Reported sales in 2007 1 Derived from adding FY 2007 sales Schering-Plough and Intervet Elanco Fort Dodge Novartis Bayer Merial Pfizer SP / Intervet 2.7 1 2.6 2.4 1.3 1.1 1.0 1.0 Intervet/Schering-Plough Animal Health – an Industry Leader

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Corporate Overview 27 Animal Health Sales by Species 2008 YTD of Sales Ruminants • Cattle is by far the largest species • India biggest milk producer in the world Poultry • Broilers breeders and layers • Health is purely economically driven Pigs Pigs • Sows and fatteners • Growth in respiratory vaccines segment Companion Companion Animals Animals • Dogs cats and horses • Fastest growing segment over the past 15 years Aquatic Animals • Emerging industry fast growing • Diseases vary with water temperature Ruminants 43 Poultry 16 Pigs 13 Companion Animals 23 Aquatic Animals 2 Others 2

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Corporate Overview 28 Strong Base of Product Lines in Animal Health • A Global Leader in Vaccines • A Global Leader in Cattle • A Global Leader in Sheep • A Global Leader in Poultry • A Global Leader in Aquaculture • A Global Leader in Swine • No. 5 in Companion Animal Rankings based on total combined sales in 2006 sold in relevant category Source: Wood MacKenzie

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Corporate Overview 29 Key Consumer Health Care Products

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Corporate Overview 30 Consumer Healthcare Sales 1H’08 Millions ∆ vs. 1H’07 • OTC 389 8 – Claritin OTC 258 -2 – MiraLAX 54 N/M – Other OTC 77 5 • Foot Care 190 5 • Sun Care 199 -1 Total 778 5

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August 2008 Schering-Plough Our Way of Working

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Corporate Overview 32 It All Begins with our People Strong people operating in a strong culture aligned around our Vision Mission and Values A winning attitude drives behavior which drives a business culture aiming to deliver long-term high performance How we work determines what we deliver long term. Our Approach: Listen Learn Lead

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Corporate Overview 33 Leader Behaviors • We see every person in our company as a leader • The Schering-Plough Leader Behaviors are: – Shared accountability and transparency – Cross-functional teamwork and collaboration – Listening and learning – Benchmarking and continuously improving – Coaching and developing others – Business integrity

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August 2008 Schering-Plough Our Philosophy

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Corporate Overview 35 Corporate Social Responsibility • Committed to building healthy and strong communities through: – philanthropic initiatives – public and private partnerships – employee volunteerism • Supports programs that enhance quality of life in communities we serve locally and globally

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Corporate Overview 36 Corporate Social Responsibility Assistance and support programs for low-income patients without insurance: • Commitment to Care: offers access to Schering-Plough’s cancer hepatitis and antifungal drugs U.S. • Schering-Plough Cares: provides access to most other Schering-Plough drugs U.S. • In 2007 these programs provided over 65000 patients with more than 100 million worth of free Schering-Plough products U.S. • In 2007 product contributions outside of the U.S. were more than 30 million

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Corporate Overview 37 Building a New Kind of Health Care Company Striving to: • Be patient-focused and customer-focused • Operate with business integrity quality and compliance in every dimension of our work • Put science at the center of our company • Do the right thing for the patient

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