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<TITLE>SCHERING-PLOUGH CORP.</TITLE>
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<P align="center" style="font-size: 10pt">As filed with the
Securities and Exchange Commission on December&nbsp;8, 2004.



<P align="right" style="font-size: 10pt">Registration No.&nbsp;333-


<P align="center" style="font-size: 14pt">UNITED
STATES<br>
SECURITIES AND EXCHANGE COMMISSION

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<DIV align="center" style="font-size: 12pt">Washington, D.C. 20549
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<P align="center" style="font-size: 18pt">FORM S-8


<P align="center" style="font-size: 12pt">REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933


<P align="center" style="font-size: 24pt">Schering-Plough Corporation


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<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


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    <TD align="center" valign="top"><B>New Jersey</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>22-1918501</B></TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of<BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="100%">&nbsp;</TD>
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    <TD width="100%">&nbsp;</TD>
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    <TD align="center" valign="top"><B>2000 Galloping Hill Road<BR>
Kenilworth, New Jersey 07033</B></TD>
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<TR style="font-size: 1px">
    <TD align="center" valign="top"><HR size="1" noshade width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address, including zip code, of registrant&#146;s<BR>
principal executive offices)</TD>
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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="100%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Schering-Plough Corporation Savings Advantage Plan</B><BR>
(Full title of the plan)</TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top"><HR size="1" noshade width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Susan Ellen Wolf<BR>
Secretary, Associate General Counsel and Staff Vice President<BR>
Schering-Plough Corporation<BR>
2000 Galloping Hill Road<BR>
Kenilworth, New Jersey 07033<BR>
(908)&nbsp;298-4000</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top"><HR size="1" noshade width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Name, address, and telephone number,<BR>
including area code, of agent for service)</TD>
</TR>
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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
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<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


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    <TD width="9%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Title of</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>per unit</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>price</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>fee</B><HR size="1" noshade></TD>
</TR>

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<TR valign="bottom">
    <TD>Schering-Plough
Corporation Savings
Advantage Plan
Obligations&nbsp;(1)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">100</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">31,675</TD>
    <TD>&nbsp;</TD>
</TR>

<tr>
<td colspan="17"><hr size="1" noshade></td>
</tr>

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<tr>
<td valign="top">(1)</td>
<td>&nbsp;</td>
<td>The Schering-Plough Corporation Savings Advantage Plan obligations are
unsecured obligations of Schering-Plough Corporation to pay deferred
compensation in the future in accordance with the Schering-Plough Corporation
Savings Advantage Plan.
</td>
</tr>


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<P align="center" style="font-size: 10pt">&nbsp;
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. Incorporation of Certain Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. Description of Securities.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. Interests of Named Experts and Counsel.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">S I G N A T U R E S</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="y69412exv4w1.htm">EX-4.1 SAVINGS ADVANTAGE PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="y69412exv5.htm">EX-5 OPINION OF LEGAL COUNSEL</A></TD></TR>
<TR><TD colspan="9"><A HREF="y69412exv15.htm">EX-15 LETTER OF DELOITTE & TOUCHE LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="y69412exv23w1.htm">EX-23.1 CONSENT OF DELOITTE & TOUCHE LLP</A></TD></TR>
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<P align="center" style="font-size: 10pt">PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT


<!-- link2 "Item&nbsp;3. Incorporation of Certain Documents by Reference." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;3. Incorporation of Certain Documents by Reference.


<P align="left" style="font-size: 10pt">Schering-Plough Corporation (the &#147;Company&#148; or &#147;Registrant&#148;) hereby incorporates
by reference in this Registration Statement the documents listed below
previously filed with the Securities and Exchange Commission (the &#147;Commission&#148;)
under the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;):



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Registrant&#146;s latest annual report filed pursuant to Section 13(a)
or 15(d) of the Exchange Act.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;All other reports filed pursuant to Section 13(a) or 15(d) of the
Exchange Act since the end of the fiscal year covered by the Registrant
document referred to in (a)&nbsp;above.


<P align="left" style="font-size: 10pt">All documents subsequently filed with the Commission by the Registrant pursuant
to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing
of a post-effective amendment to this Registration Statement which indicates
that all securities offered hereby have been sold or which deregisters all
securities then remaining unsold shall be deemed to be incorporated by
reference and to be a part hereof from the date of filing of such documents.


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<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;4. Description of Securities.


<P align="left" style="font-size: 10pt">Under the Schering-Plough Corporation Savings Advantage Plan (the &#147;Plan&#148;),
certain management and highly compensated employees of Schering-Plough
Corporation and certain of its subsidiaries may defer a portion of their base
salary and bonus compensation.


<P align="left" style="font-size: 10pt">Amounts deferred by a participant under the Plan, as well as Company
contributions, will be credited to the participant&#146;s Plan account. In
addition, benefits payable under certain other Company-sponsored nonqualified
plans will be deferred under the Plan, either automatically or at the election
of the participant depending on the transferor plan. The value of a
participant&#146;s account will be based on the performance of benchmark investment
funds selected by the participant under the Plan for purposes of accounting (as
if the deferred compensation had been so invested) and not for actual
investment. Since no participant deferrals or contributions by the Company
actually will be invested in any investment fund, participants

<P align="center" style="font-size: 10pt">&nbsp;
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<P align="left" style="font-size: 10pt">will not have
any ownership interest in any investment fund. The Schering-Plough Corporation
Investment Committee has the sole discretion to determine the alternative
benchmark investment funds available under the Plan as the
measurement mechanism to determine the rate of return on amounts deemed
invested in accordance with the terms of the Plan.

<P align="left" style="font-size: 10pt">The obligations of the Company under the Plan (the &#147;Obligations&#148;) are unsecured
general obligations to pay in the future the value of the deferred compensation
accounts adjusted to reflect the performance of the selected measurement
investment funds in accordance with the terms of the Plan. The Obligations
will rank without preference with other unsecured and unsubordinated
indebtedness of the Company from time to time outstanding and are, therefore,
subject to the risks of the Company&#146;s insolvency. The Company is not required
to fund or otherwise segregate assets to be used for the payment of the
Obligations.


<P align="left" style="font-size: 10pt">Obligations are generally payable under the Plan (i)&nbsp;after termination of
employment, (ii)&nbsp;at the election of the participant, the first day of any month
designated by the participant which is at least three years after the date the
participant makes the election, (iii)&nbsp;in the event of an unforeseeable
financial emergency as determined by the Schering-Plough Corporation Global
Benefits and Compensation Oversight Committee, and (iv)&nbsp;at the advance election
of the participant, following a change of control of the Company.


<P align="left" style="font-size: 10pt">The Obligations cannot be assigned, alienated, pledged or encumbered. The
Obligations are not convertible into any security of the Company.


<P align="left" style="font-size: 10pt">The Board of Directors of the Company or its delegate may amend the Plan at any
time, except that no amendment may adversely affect the accounts of
participants without their prior written consent.


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<DIV align="left"><A NAME="003"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;5. Interests of Named Experts and Counsel.


<P align="left" style="font-size: 10pt">The validity of the securities being registered hereby has been passed upon for
the Registrant by Susan Ellen Wolf, Secretary, Associate General Counsel and
Staff Vice President of the Registrant. Ms.&nbsp;Wolf is an officer of the
Registrant and beneficially owns shares of Common Stock and holds options to
purchase additional shares of Common Stock. Ms.&nbsp;Wolf is eligible to
participate in the Plan and may receive benefits under the Plan.


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<DIV align="left"><A NAME="004"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;6. Indemnification of Directors and Officers.


<P align="left" style="font-size: 10pt">The registrant is organized under the laws of the State of New Jersey. The New
Jersey Business Corporation Act provides that a New Jersey corporation has the
power to indemnify its directors, officers, employees and other agents against
expenses and liabilities in connection with any proceeding involving such
person by reason of his/her being or having been a director, officer, employee
or other agent, other than a proceeding by or in the right of the corporation,
if he/she acted in good faith and in a manner he/she reasonably believed to be
in or not opposed to the best interests of the corporation and, with respect to
any criminal proceeding, such person

<P align="center" style="font-size: 10pt">&nbsp;
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<P align="left" style="font-size: 10pt">had no reasonable cause to believe his/her
conduct was unlawful. Expenses incurred by a director, officer, employee or
other agent in connection with a proceeding may be, under certain
circumstances, paid by the corporation before the final disposition of the
proceeding as authorized by the board of directors. The power to indemnify and
pay expenses under the New Jersey Business Corporation Act does not exclude
other rights, including the right to be indemnified against liabilities and
expenses incurred in proceedings by or in the right of the corporation, to
which a director, officer, employee or other agent of the corporation may be
entitled to under a certificate of incorporation, by-law, agreement, vote of
shareholders, or otherwise; provided that no indemnification is permitted to be
made to or on behalf of such person if a judgment or other final adjudication adverse to such person establishes that
his/her acts or omissions were in breach of his/her duty of loyalty to the
corporation or its shareholders, were not in good faith or involved a violation
of the law, or resulted in the receipt of such person of an improper personal
benefit.


<P align="left" style="font-size: 10pt">The New Jersey Business Corporation Act further provides that a New Jersey
corporation has the power to purchase and maintain insurance on behalf of any
director, officer, employee or other agent against any expenses incurred in any
proceeding and any liabilities asserted against him/her by reason of his/her
being or having been a director, officer, employee or other agent, whether or
not the corporation would have the power to indemnify him/her against such
expenses and liabilities under the New Jersey Business Corporation Act.


<P align="left" style="font-size: 10pt">The registrant&#146;s Certificate of Incorporation provides that directors and
officers of the registrant shall not be personally liable (in the case of
officers, for the duration of any time permitted by law) to the registrant or
its shareholders for damages for breach of any duty owed to the registrant or
its shareholders, except for liability for any breach of duty based upon an act
or omission (i)&nbsp;in breach of such persons&#146; duty of loyalty to the registrant or
its shareholders, (ii)&nbsp;not in good faith or involving a knowing violation of
law or (iii)&nbsp;resulting in receipt by such persons of an improper personal
benefit.


<P align="left" style="font-size: 10pt">The Certificate of Incorporation of the registrant also provides that each
person who was or is made a party or is threatened to be made a party to or who
is involved in any pending, threatened or completed civil, criminal,
administrative or arbitrative action, suit or proceeding, or any appeal therein
or any inquiry or investigation which could lead to such action, suit or
proceeding (a &#147;proceeding&#148;), by reason of his/her being or having been a
director, officer, employee, or agent of the registrant or of any constituent
corporation absorbed by the registrant in a consolidation or merger, or by
reason of his/her being or having been a director, officer, trustee, employee
or agent of any other corporation (domestic or foreign) or of any partnership,
joint venture, sole proprietorship, trust, employee benefit plan or other
enterprise (whether or not for profit), serving as such at the request of the
registrant or of any such constituent corporation, or the legal representative
of any such director, officer, trustee, employee or agent, shall be indemnified
and held harmless by the registrant to the fullest extent permitted by the New
Jersey Business Corporation Act, as the same exists or may be amended (but, in
the case

<P align="center" style="font-size: 10pt">&nbsp;
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<P align="left" style="font-size: 10pt">of any such amendment, only to the extent that such amendment permits
the registrant to provide broader indemnification rights than said Act
permitted prior to such amendment), from and against any and all reasonable
costs, disbursements and attorneys&#146; fees, and any and all amounts paid or
incurred in satisfaction of settlements, judgments, fines and penalties,
incurred or suffered in connection with any such proceeding, and such
indemnification shall continue as to a person who has ceased to be a director,
officer, trustee, employee or agent and shall inure to the benefit of his/her
heirs, executors, administrators and assigns; provided, however, that, the
registrant shall indemnify any such person seeking indemnification in
connection with a proceeding (or part thereof) initiated by such person only if
such proceeding (or part thereof) was specifically authorized by the Board of
Directors of the registrant. The Certificate of Incorporation provides that
such right to indemnification shall be a contract right and shall include the
right to be paid by the registrant the expenses incurred in connection with any
proceeding before the final disposition of such proceeding as authorized by the
Board of Directors; provided, however, that, if the New Jersey Business
Corporation Act so requires, the payment of such expenses before the final
disposition of a proceeding shall be made only upon receipt by the registrant
of an undertaking, by or on behalf of such director, officer, employee, or
agent to reimburse the amounts so paid if it is not ultimately determined that
such person is entitled to be indemnified under the Certificate of
Incorporation or otherwise. The right to indemnification and payment of
expenses provided by or granted pursuant to the Certificate of Incorporation
shall not exclude or be exclusive of any other rights to which any person may
be entitled under a certificate of incorporation, by-law,
agreement, vote of shareholders or otherwise, provided that no indemnification
shall be made to or on behalf of such person if a judgment or other final
adjudication adverse to such person establishes that such person has not met
the applicable standard of conduct required to be met under the New Jersey
Business Corporation Act.


<P align="left" style="font-size: 10pt">The registrant may purchase and maintain insurance on behalf of any director,
officer, employee or agent of the registrant or another corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise
against any expenses incurred in any proceeding and any liabilities asserted
against him/her by reason of such person&#146;s being or having been such a
director, officer, employee or agent, whether or not the registrant would have
the power to indemnify such person against such expenses and liabilities under
the provisions of the Certificate of Incorporation or otherwise. The registrant
maintains such insurance on behalf of its directors and officers.


<P align="left" style="font-size: 10pt">The foregoing statements are subject to the detailed provisions of the New
Jersey Business Corporation Act and the registrant&#146;s Certificate of
Incorporation.



<P align="center" style="font-size: 10pt">&nbsp;
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<!-- link2 "Item&nbsp;8. Exhibits" -->
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<P align="left" style="font-size: 10pt">Item&nbsp;8. Exhibits.


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</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Schering-Plough Corporation Savings Advantage Plan</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Legal Counsel</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">15
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter of Deloitte &#038; Touche LLP regarding Interim Financial Information</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Legal Counsel (included in Exhibit&nbsp;5)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included in signature page)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<!-- link2 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="006"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;9. Undertakings.



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant hereby undertakes:</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales
are being made, a post-effective amendment to this Registration
Statement:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by
Section&nbsp;10(a)(3) of the Securities Act of 1933;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or
events arising after the effective date of the Registration
Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent
a fundamental change in the information set forth in the
Registration Statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not
exceed that which was registered) and any deviation from
the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate,
the changes in volume and price represent no more than a
20% change in the maximum aggregate offering price set
forth in the &#147;Calculation of Registration Fee&#148; table in the
effective registration statement.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with
respect to the plan of distribution not previously
disclosed in the Registration Statement or any material
change to such information in the Registration Statement;</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
Registration Statement is on Form S-3 or Form S-8, and the information required
to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section&nbsp;13 or Section
15(d) of the Exchange Act that are incorporated by reference in the
Registration Statement.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)
To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
The Registrant further undertakes that, for purposes of determining
any liability under the Securities Act of 1933, each filing of the Registrant&#146;s
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act
(and, where applicable, each filing of an employee benefit plan&#146;s annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in the Registration Statement shall be deemed to be a new
registration statement relating to the Securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>

<!-- link1 "S I G N A T U R E S" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="center" style="font-size: 10pt">S I G N A T U R E S


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Kenilworth, State of New Jersey, on
December&nbsp;7,
2004.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="65%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">SCHERING-PLOUGH CORPORATION</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Robert Bertolini</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Robert Bertolini</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President and Chief</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Financial Officer</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">Each person whose signature appears below constitutes and appoints Robert
Bertolini, Douglas J. Gingerella and Susan Ellen Wolf, and each of them, his or
her true and lawful attorneys-in-fact and agent, with full power of
substitution and resubstitution, for him or her and in his or her name, place
and stead, in any and all capacities, to sign any and all amendments, including
post-effective amendments, to this Registration Statement and any and all
related registration statements necessary to register additional securities,
and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto such attorneys in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as he or she might
or could do in person, hereby ratifying and confirming all that each such
attorneys-in-fact and agents, or any of them or their or his or her substitute
or substitutes, may lawfully do or cause to be done by virtue hereof.


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed below by the following persons in the capacities
indicated on December&nbsp;7, 2004.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="33%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">SIGNATURE</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">TITLE</TD>
</TR>

<!-- End Table Head -->


<!-- Begin Table Body -->

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" nowrap valign="top">/s/ Fred Hassan<BR>
<HR size="1" noshade>
Fred Hassan</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the Board, Chief<BR>
Executive Officer and President<BR>
(Principal Executive Officer)</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Robert Bertolini<BR>
<HR size="1" noshade>
Robert Bertolini</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Executive Vice President and<BR>
Chief Financial Officer<BR>
(Principal Financial Officer)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="33%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Douglas J. Gingerella<BR>
<HR size="1" noshade>
Douglas J. Gingerella</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Vice President and Controller<BR>
(Principal Accounting Officer)</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Hans W. Becherer<BR>
<HR size="1" noshade>
Hans W. Becherer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Philip Leder, M.D.<BR>
<HR size="1" noshade>
Philip Leder, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Eugene R. McGrath<BR>
<HR size="1" noshade>
Eugene R. McGrath</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Carl E. Mundy, Jr.<BR>
<HR size="1" noshade>
Carl E. Mundy, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Richard de J. Osborne<BR>
<HR size="1" noshade>
Richard de J. Osborne</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Patricia F. Russo<BR>
<HR size="1" noshade>
Patricia F. Russo</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Kathryn C. Turner<BR>
<HR size="1" noshade>
Kathryn C. Turner</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Robert F. W. van Oordt<BR>
<HR size="1" noshade>
Robert F. W. van Oordt</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Arthur F. Weinbach<BR>
<HR size="1" noshade>
Arthur F. Weinbach</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="center" style="font-size: 10pt">EXHIBIT INDEX


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Schering-Plough Corporation Savings Advantage Plan</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Legal Counsel</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">15
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter of Deloitte &#038; Touche LLP regarding Interim Financial Information</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Legal Counsel (included in Exhibit&nbsp;5)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included in signature page)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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SCHERING-PLOUGH CORP.
Table of Contents
As filed with the
Securities and Exchange Commission on December 8, 2004.
Registration No. 333-
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Schering-Plough Corporation
(Exact name of registrant as specified in its charter)
New Jersey
22-1918501
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer Identification No.)
2000 Galloping Hill Road
Kenilworth, New Jersey 07033
(Address, including zip code, of registrant's
principal executive offices)
Schering-Plough Corporation Savings Advantage Plan
(Full title of the plan)
Susan Ellen Wolf
Secretary, Associate General Counsel and Staff Vice President
Schering-Plough Corporation
2000 Galloping Hill Road
Kenilworth, New Jersey 07033
(908) 298-4000
(Name, address, and telephone number,
including area code, of agent for service)
Table of Contents
CALCULATION OF REGISTRATION FEE
Proposed
Proposed
Title of
maximum
maximum
securities
Amount
offering
aggregate
Amount of
to be
to be
price
offering
registration
registered
registered
per unit
price
fee
Schering-Plough
Corporation Savings
Advantage Plan
Obligations (1)
$
250,000,000
100
%
$
250,000,000
$
31,675
(1)
The Schering-Plough Corporation Savings Advantage Plan obligations are
unsecured obligations of Schering-Plough Corporation to pay deferred
compensation in the future in accordance with the Schering-Plough Corporation
Savings Advantage Plan.
TABLE OF CONTENTS
PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Certain Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 8. Exhibits
Item 9. Undertakings.
S I G N A T U R E S
EXHIBIT INDEX
EX-4.1 SAVINGS ADVANTAGE PLAN
EX-5 OPINION OF LEGAL COUNSEL
EX-15 LETTER OF DELOITTE & TOUCHE LLP
EX-23.1 CONSENT OF DELOITTE & TOUCHE LLP
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Certain Documents by Reference.
Schering-Plough Corporation (the "Company" or "Registrant") hereby incorporates
by reference in this Registration Statement the documents listed below
previously filed with the Securities and Exchange Commission (the "Commission")
under the Securities Exchange Act of 1934, as amended (the "Exchange Act"):
(a) The Registrant's latest annual report filed pursuant to Section 13(a)
or 15(d) of the Exchange Act.
(b) All other reports filed pursuant to Section 13(a) or 15(d) of the
Exchange Act since the end of the fiscal year covered by the Registrant
document referred to in (a) above.
All documents subsequently filed with the Commission by the Registrant pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing
of a post-effective amendment to this Registration Statement which indicates
that all securities offered hereby have been sold or which deregisters all
securities then remaining unsold shall be deemed to be incorporated by
reference and to be a part hereof from the date of filing of such documents.
Item 4. Description of Securities.
Under the Schering-Plough Corporation Savings Advantage Plan (the "Plan"),
certain management and highly compensated employees of Schering-Plough
Corporation and certain of its subsidiaries may defer a portion of their base
salary and bonus compensation.
Amounts deferred by a participant under the Plan, as well as Company
contributions, will be credited to the participant's Plan account. In
addition, benefits payable under certain other Company-sponsored nonqualified
plans will be deferred under the Plan, either automatically or at the election
of the participant depending on the transferor plan. The value of a
participant's account will be based on the performance of benchmark investment
funds selected by the participant under the Plan for purposes of accounting (as
if the deferred compensation had been so invested) and not for actual
investment. Since no participant deferrals or contributions by the Company
actually will be invested in any investment fund, participants
Table of Contents
will not have
any ownership interest in any investment fund. The Schering-Plough Corporation
Investment Committee has the sole discretion to determine the alternative
benchmark investment funds available under the Plan as the
measurement mechanism to determine the rate of return on amounts deemed
invested in accordance with the terms of the Plan.
The obligations of the Company under the Plan (the "Obligations") are unsecured
general obligations to pay in the future the value of the deferred compensation
accounts adjusted to reflect the performance of the selected measurement
investment funds in accordance with the terms of the Plan. The Obligations
will rank without preference with other unsecured and unsubordinated
indebtedness of the Company from time to time outstanding and are, therefore,
subject to the risks of the Company's insolvency. The Company is not required
to fund or otherwise segregate assets to be used for the payment of the
Obligations.
Obligations are generally payable under the Plan (i) after termination of
employment, (ii) at the election of the participant, the first day of any month
designated by the participant which is at least three years after the date the
participant makes the election, (iii) in the event of an unforeseeable
financial emergency as determined by the Schering-Plough Corporation Global
Benefits and Compensation Oversight Committee, and (iv) at the advance election
of the participant, following a change of control of the Company.
The Obligations cannot be assigned, alienated, pledged or encumbered. The
Obligations are not convertible into any security of the Company.
The Board of Directors of the Company or its delegate may amend the Plan at any
time, except that no amendment may adversely affect the accounts of
participants without their prior written consent.
Item 5. Interests of Named Experts and Counsel.
The validity of the securities being registered hereby has been passed upon for
the Registrant by Susan Ellen Wolf, Secretary, Associate General Counsel and
Staff Vice President of the Registrant. Ms. Wolf is an officer of the
Registrant and beneficially owns shares of Common Stock and holds options to
purchase additional shares of Common Stock. Ms. Wolf is eligible to
participate in the Plan and may receive benefits under the Plan.
Item 6. Indemnification of Directors and Officers.
The registrant is organized under the laws of the State of New Jersey. The New
Jersey Business Corporation Act provides that a New Jersey corporation has the
power to indemnify its directors, officers, employees and other agents against
expenses and liabilities in connection with any proceeding involving such
person by reason of his/her being or having been a director, officer, employee
or other agent, other than a proceeding by or in the right of the corporation,
if he/she acted in good faith and in a manner he/she reasonably believed to be
in or not opposed to the best interests of the corporation and, with respect to
any criminal proceeding, such person
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had no reasonable cause to believe his/her
conduct was unlawful. Expenses incurred by a director, officer, employee or
other agent in connection with a proceeding may be, under certain
circumstances, paid by the corporation before the final disposition of the
proceeding as authorized by the board of directors. The power to indemnify and
pay expenses under the New Jersey Business Corporation Act does not exclude
other rights, including the right to be indemnified against liabilities and
expenses incurred in proceedings by or in the right of the corporation, to
which a director, officer, employee or other agent of the corporation may be
entitled to under a certificate of incorporation, by-law, agreement, vote of
shareholders, or otherwise; provided that no indemnification is permitted to be
made to or on behalf of such person if a judgment or other final adjudication adverse to such person establishes that
his/her acts or omissions were in breach of his/her duty of loyalty to the
corporation or its shareholders, were not in good faith or involved a violation
of the law, or resulted in the receipt of such person of an improper personal
benefit.
The New Jersey Business Corporation Act further provides that a New Jersey
corporation has the power to purchase and maintain insurance on behalf of any
director, officer, employee or other agent against any expenses incurred in any
proceeding and any liabilities asserted against him/her by reason of his/her
being or having been a director, officer, employee or other agent, whether or
not the corporation would have the power to indemnify him/her against such
expenses and liabilities under the New Jersey Business Corporation Act.
The registrant's Certificate of Incorporation provides that directors and
officers of the registrant shall not be personally liable (in the case of
officers, for the duration of any time permitted by law) to the registrant or
its shareholders for damages for breach of any duty owed to the registrant or
its shareholders, except for liability for any breach of duty based upon an act
or omission (i) in breach of such persons' duty of loyalty to the registrant or
its shareholders, (ii) not in good faith or involving a knowing violation of
law or (iii) resulting in receipt by such persons of an improper personal
benefit.
The Certificate of Incorporation of the registrant also provides that each
person who was or is made a party or is threatened to be made a party to or who
is involved in any pending, threatened or completed civil, criminal,
administrative or arbitrative action, suit or proceeding, or any appeal therein
or any inquiry or investigation which could lead to such action, suit or
proceeding (a "proceeding"), by reason of his/her being or having been a
director, officer, employee, or agent of the registrant or of any constituent
corporation absorbed by the registrant in a consolidation or merger, or by
reason of his/her being or having been a director, officer, trustee, employee
or agent of any other corporation (domestic or foreign) or of any partnership,
joint venture, sole proprietorship, trust, employee benefit plan or other
enterprise (whether or not for profit), serving as such at the request of the
registrant or of any such constituent corporation, or the legal representative
of any such director, officer, trustee, employee or agent, shall be indemnified
and held harmless by the registrant to the fullest extent permitted by the New
Jersey Business Corporation Act, as the same exists or may be amended (but, in
the case
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of any such amendment, only to the extent that such amendment permits
the registrant to provide broader indemnification rights than said Act
permitted prior to such amendment), from and against any and all reasonable
costs, disbursements and attorneys' fees, and any and all amounts paid or
incurred in satisfaction of settlements, judgments, fines and penalties,
incurred or suffered in connection with any such proceeding, and such
indemnification shall continue as to a person who has ceased to be a director,
officer, trustee, employee or agent and shall inure to the benefit of his/her
heirs, executors, administrators and assigns; provided, however, that, the
registrant shall indemnify any such person seeking indemnification in
connection with a proceeding (or part thereof) initiated by such person only if
such proceeding (or part thereof) was specifically authorized by the Board of
Directors of the registrant. The Certificate of Incorporation provides that
such right to indemnification shall be a contract right and shall include the
right to be paid by the registrant the expenses incurred in connection with any
proceeding before the final disposition of such proceeding as authorized by the
Board of Directors; provided, however, that, if the New Jersey Business
Corporation Act so requires, the payment of such expenses before the final
disposition of a proceeding shall be made only upon receipt by the registrant
of an undertaking, by or on behalf of such director, officer, employee, or
agent to reimburse the amounts so paid if it is not ultimately determined that
such person is entitled to be indemnified under the Certificate of
Incorporation or otherwise. The right to indemnification and payment of
expenses provided by or granted pursuant to the Certificate of Incorporation
shall not exclude or be exclusive of any other rights to which any person may
be entitled under a certificate of incorporation, by-law,
agreement, vote of shareholders or otherwise, provided that no indemnification
shall be made to or on behalf of such person if a judgment or other final
adjudication adverse to such person establishes that such person has not met
the applicable standard of conduct required to be met under the New Jersey
Business Corporation Act.
The registrant may purchase and maintain insurance on behalf of any director,
officer, employee or agent of the registrant or another corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise
against any expenses incurred in any proceeding and any liabilities asserted
against him/her by reason of such person's being or having been such a
director, officer, employee or agent, whether or not the registrant would have
the power to indemnify such person against such expenses and liabilities under
the provisions of the Certificate of Incorporation or otherwise. The registrant
maintains such insurance on behalf of its directors and officers.
The foregoing statements are subject to the detailed provisions of the New
Jersey Business Corporation Act and the registrant's Certificate of
Incorporation.
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Item 8. Exhibits.
Exhibit Number
Description
4.1
Schering-Plough Corporation Savings Advantage Plan
5
Opinion of Legal Counsel
15
Letter of Deloitte & Touche LLP regarding Interim Financial Information
23.1
Consent of Deloitte & Touche LLP
23.2
Consent of Legal Counsel (included in Exhibit 5)
24
Power of Attorney (included in signature page)
Item 9. Undertakings.
(a)
The Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales
are being made, a post-effective amendment to this Registration
Statement:
(i)
To include any prospectus required by
Section 10(a)(3) of the Securities Act of 1933;
(ii)
To reflect in the prospectus any facts or
events arising after the effective date of the Registration
Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent
a fundamental change in the information set forth in the
Registration Statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not
exceed that which was registered) and any deviation from
the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate,
the changes in volume and price represent no more than a
20% change in the maximum aggregate offering price set
forth in the "Calculation of Registration Fee" table in the
effective registration statement.
(iii)
To include any material information with
respect to the plan of distribution not previously
disclosed in the Registration Statement or any material
change to such information in the Registration Statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
Registration Statement is on Form S-3 or Form S-8, and the information required
to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section
15(d) of the Exchange Act that are incorporated by reference in the
Registration Statement.
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(2)
That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
(b)
The Registrant further undertakes that, for purposes of determining
any liability under the Securities Act of 1933, each filing of the Registrant's
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act
(and, where applicable, each filing of an employee benefit plan's annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in the Registration Statement shall be deemed to be a new
registration statement relating to the Securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
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S I G N A T U R E S
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Kenilworth, State of New Jersey, on
December 7,
2004.
SCHERING-PLOUGH CORPORATION
By:
/s/ Robert Bertolini
Robert Bertolini
Executive Vice President and Chief
Financial Officer
Each person whose signature appears below constitutes and appoints Robert
Bertolini, Douglas J. Gingerella and Susan Ellen Wolf, and each of them, his or
her true and lawful attorneys-in-fact and agent, with full power of
substitution and resubstitution, for him or her and in his or her name, place
and stead, in any and all capacities, to sign any and all amendments, including
post-effective amendments, to this Registration Statement and any and all
related registration statements necessary to register additional securities,
and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto such attorneys in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as he or she might
or could do in person, hereby ratifying and confirming all that each such
attorneys-in-fact and agents, or any of them or their or his or her substitute
or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed below by the following persons in the capacities
indicated on December 7, 2004.
SIGNATURE
TITLE
/s/ Fred Hassan
Fred Hassan
Chairman of the Board, Chief
Executive Officer and President
(Principal Executive Officer)
/s/ Robert Bertolini
Robert Bertolini
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)
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/s/ Douglas J. Gingerella
Douglas J. Gingerella
Vice President and Controller
(Principal Accounting Officer)
/s/ Hans W. Becherer
Hans W. Becherer
Director
/s/ Philip Leder, M.D.
Philip Leder, M.D.
Director
/s/ Eugene R. McGrath
Eugene R. McGrath
Director
/s/ Carl E. Mundy, Jr.
Carl E. Mundy, Jr.
Director
/s/ Richard de J. Osborne
Richard de J. Osborne
Director
/s/ Patricia F. Russo
Patricia F. Russo
Director
/s/ Kathryn C. Turner
Kathryn C. Turner
Director
/s/ Robert F. W. van Oordt
Robert F. W. van Oordt
Director
/s/ Arthur F. Weinbach
Arthur F. Weinbach
Director
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EXHIBIT INDEX
Exhibit Number
Description
4.1
Schering-Plough Corporation Savings Advantage Plan
5
Opinion of Legal Counsel
15
Letter of Deloitte & Touche LLP regarding Interim Financial Information
23.1
Consent of Deloitte & Touche LLP
23.2
Consent of Legal Counsel (included in Exhibit 5)
24
Power of Attorney (included in signature page)