Sec Form 4 Filing - ZAHN RICHARD W @ SCHERING PLOUGH CORP - 2003-12-01

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person ZAHN RICHARD W 2. Issuer Name and Ticker or Trading Symbol SCHERING PLOUGH CORP [ SGP] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Vice President (Last) (First) (Middle) SCHERING-PLOUGH CORPORATION, 2000 GALLOPING HILL ROAD 3. Date of Earliest Transaction (MM/DD/YY) 12/01/2003 (Street) KENILWORTH, NJ07033 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 12/01/2003 M 13,500 A 39,718 D Common Shares 12/01/2003 F 5,783 D $ 16.63 33,935 D Common Shares 3,628 I By Immediate Family

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Deferred Stock Unit Award $ 0 ( 2 ) 12/01/2003 M 13,500 ( 3 ) ( 4 ) Common Shares 13,500 ( 5 ) 29,376 D Option (right to buy) $ 12.91 ( 6 ) 09/24/2005( 11 ) Common Shares 128,000 128,000 D Option (right to buy) $ 38.13 ( 8 ) 02/22/2008 Common Shares 52,000 52,000 D Option (right to buy) $ 53.06 ( 8 ) 02/21/2009 Common Shares 43,400 43,400 D Option (right to buy) $ 37.75 ( 8 ) 02/21/2010 Common Shares 37,800 37,800 D Option (right to buy) $ 45.04 ( 9 ) 09/24/2010( 13 ) Common Shares 260,000 260,000 D Option (right to buy) $ 40.05 ( 8 ) 02/25/2011 Common Shares 90,000 90,000 D Option (right to buy) $ 34.68 ( 8 ) 02/24/2012 Common Shares 90,000 90,000 D Option (right to buy) $ 14.44 ( 7 ) 02/28/2006( 12 ) Common Shares 240,000 240,000 D Option (right to buy) $ 17.85 02/25/2004 02/23/2013 Common Shares 76,500 76,500 D Option (right to buy) $ 17.85 ( 10 ) 02/23/2013 Common Shares 67,800 67,800 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ZAHN RICHARD W SCHERING-PLOUGH CORPORATION 2000 GALLOPING HILL ROAD KENILWORTH, NJ07033 Vice President Signatures /s/ Zahn, Richard W. 12/04/2003 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Not Applicable. ( 2 )Not Applicable. ( 3 )Not Applicable. ( 4 )Not Applicable. ( 5 )Not Applicable. ( 6 )Options were granted on September 25, 1995 and are exercisable in twenty percent increments on September 26 of each 2000, 2001, 2002, 2003 and 2004. ( 7 )Options were granted on March 1, 1996 and are exercisable in twenty percent increments on March 2 of each 2001, 2002, 2003, 2004 and 2005. ( 8 )These options are currently exercisable. ( 9 )Options were granted on September 25, 2000 and are exercisable in one-third increments on September 26 of each 2003, 2004 and 2005. ( 10 )Options were granted on February 24, 2003 and are exercisable in one-third increments on February 25 of each 2004, 2005 and 2006. ( 11 )The terms of the option grant provide that in the event of retirement under a retirement plan of the Issuer or a subsidiary: (i) on or after normal retirement date, 100% of the shares granted hereby shall become fully exercisable as of such retirement date; or (ii) on an early retirement date, the shares granted hereby shall become exercisable only to the extent approved by the Committee but in no event shall shares be exercisable hereunder if such early retirement is prior to September 26, 1996. ( 12 )The terms of the option grant provide that in the event of retirement under a retirement plan of the Issuer or a subsidiary: (i) on or after normal retirement date, 100% of the shares granted hereby shall become fully exercisable as of such retirement date; or (ii) on an early retirement date, the shares granted hereby shall become exercisable only to the extent approved by the Committee but in no event shall shares be exercisable hereunder if such early retirement is prior to March 2, 1997. ( 13 )The terms of the option grant provide that in the event of retirement under a retirement plan of the Issuer or a subsidiary: (i) on or after normal retirement date, the shares granted hereby shall continue to vest according to the schedule in footnote 9; or (ii) on an early retirement date, the shares granted hereby shall become exercisable only to the extent approved by the Committee but in no event shall shares be exercisable hereunder if such early retirement date is prior to September 26, 2003.

Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.