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Schering-Plough Announces Pricing of Senior Notes Offering

Thursday, September 13, 2007 General News
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KENILWORTH, N.J., Sept. 12 Schering-PloughCorporation (NYSE: SGP) announced today that it has agreed to sell $1 billionaggregate principal amount of 6.00% Senior Notes due 2017 and $1 billionaggregate principal amount of 6.55% Senior Notes due 2037 through anunderwritten registered public offering. The offering is expected to close onSept. 17, 2007, subject to customary closing conditions.
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The global coordinator for the offering is Goldman, Sachs & Co. The jointbookrunners are BNP Paribas Securities Corp., Credit Suisse Securities (USA)LLC and J.P. Morgan Securities Inc. The co-lead managers are Banc of AmericaSecurities LLC, Bear, Stearns & Co. Inc., Citigroup Global Markets Inc., DaiwaSecurities America Inc., ING Financial Markets LLC, Morgan Stanley & Co.Incorporated and Santander Investment Securities Inc. The co-managers are ABNAMRO Rothschild LLC, Banca IMI S.p.A., BBVA Securities Inc., BNY CapitalMarkets, Inc., Mizuho Securities USA Inc., Utendahl Capital Partners, L.P. andThe Williams Capital Group, L.P.
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The offering is being made under a shelf registration statement filed withthe Securities and Exchange Commission on Aug. 2, 2007. This announcement isneither an offer to sell nor a solicitation of an offer to buy any securitiesand shall not constitute an offer, solicitation or sale in any jurisdiction inwhich such offer, solicitation or sale would be unlawful. Any offers of theSenior Notes will be made exclusively by means of a prospectus and prospectussupplement.

Copies of the prospectus supplement and accompanying prospectus relatingto the offering may be obtained by contacting Goldman, Sachs & Co., Attn:Prospectus Dept., 85 Broad Street, New York, New York, 10004, Phone:1-866-471-2526, Fax: 212-902-9316 or email at [email protected],BNP Paribas Securities Corp. toll-free at 1-800-854-5674, Credit SuisseSecurities (USA) LLC toll-free at 1-800-221-1037 or J.P. Morgan SecuritiesInc. at 1-212-834-4533.

Schering-Plough is a global science-based company that discovers, developsand manufactures pharmaceuticals for three customer markets -- humanprescription, consumer and animal health. While most of the research anddevelopment activity is directed toward prescription products, there areimportant applications of this central research and development platform intothe consumer healthcare and animal health products. Schering-Plough alsoaccesses external innovation via partnering, in-licensing and acquisition forall three customer markets. Schering-Plough is based in Kenilworth, N.J.

DISCLOSURE NOTICE: The information in this press release and other writtenreports and oral statements made from time to time by Schering-Plough maycontain "forward-looking statements" within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Forward-looking statements do notrelate strictly to historical or current facts and are based on currentexpectations or forecasts of future events. You can identify these forward-looking statements by their use of words such as "anticipate," "believe,""could," "estimate," "expect," "forecast," "project," "intend," "plan,""potential," "will," and other similar words and terms. Actual results mayvary materially from Schering-Plough's forward-looking statements, and thereare no guarantees about the performance of Schering-Plough stock or Schering-Plough's business. Schering-Plough does not assume the obligation to updateany forward-looking statement. A number of risks and uncertainties couldcause results to differ materially from forward-looking statements. Forfurther details of these risks and uncertainties that may impact forward-looking statements, see Schering-Plough's Securities and Exchange Commissionfilings, including Part II, Item 1A, "Risk Factors" in the company's secondquarter 2007 10-Q and the "Risk Factors" section of the prospectus supplementrelated to the S
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