If you DROP and CREATE the procedure, you will loose the security settings. This might annoy your DBA or break your application altogether.
What I do is create a trivial stored procedure if it doesn't exist yet. After that, you can ALTER the stored procedure to your liking.
IF object_id('YourSp') IS NULL
EXEC ('create procedure dbo.YourSp as select 1')
GO
ALTER PROCEDURE dbo.YourSp
AS
...
This way, security settings, comments and other meta deta will survive the deployment.
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