June 28, 2005

Schering-Plough K.K.
Takeda Pharmaceutical Company Limited

Transfer of Shares of Takeda Schering-Plough Animal Health K.K. from Takeda to Schering-Plough

OSAKA, JAPAN --- Schering-Plough K.K. ("SPKK", President: Masao Torii) and Takeda Pharmaceutical Company Limited ("Takeda", President & COO: Yasuchika Hasegawa) announced today that all of Takeda's shares of Takeda Schering-Plough Animal Health K.K. ("TSA", President and Representative Director: Leopoldo Nanni) will be transferred to Schering-Plough ("SP") as of end of June 2005, based on the agreement concluded in March 2000.

TSA was established as a joint venture between SPKK (60%), the Japanese legal entity of Schering-Plough Corporation (Head Office: New Jersey, USA) and Takeda (40%) in March 2000, and subsequently, animal health business of both parties were transferred and combined in June 2000 at TSA. The transfer of shares held by Takeda to SPKK this time is stipulated in the original joint venture agreement as it takes place five years after the transfer of Takeda's animal health business.

Since start of business as a joint venture in 2000, TSA has steadily expanded its presence in Japanese market, with many key products such as Florocol, Conceral, Forvet Aquafen and Specific.

"TSA has been taking a variety of measures such as application of new products to relevant authorities, establishing efficient marketing and production scheme, supported by business partners, especially wholesalers," said Mr. Raul Kohan, President of Schering-Plough Animal Health. "That kind of strategic movement will continue toward further improvement and enhancement of business structure as chering-Plough Animal Health K.K., wholly owned subsidiary of SP."

"Our former animal health business has been growing under the new joint venture TSA," said Yasuchika Hasegawa, President & COO of Takeda. "We believe that Schering-Plough Animal Health K.K. will establish and maintain the leading position in animal health business in Japan with enough competitive business foundations."

"We will further enhance the  mutual trust of relationship with our business partners, and launch the innovative, high-quality products which enjoy the good reputation worldwide, into Japanese market," said Leopoldo Nanni, President and Representative Director of TSA. "We expect to launch approximately 20 new products within coming four years, supported by aggressive investment."

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