UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 8-K
                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

      Date of Report (Date of earliest event reported): September 16, 2005



                           DRAGON PHARMACEUTICAL INC.
             (Exact name of registrant as specified in its charter)


            Florida                       0-27937                 65-0142474
            -------                       -------                 ----------
 (State or Other Jurisdiction     (Commission File Number)      (I.R.S. Employer
         of Incorporation)                                Identification Number)


            1055 Hastings Street, Suite 1900
              Vancouver, British Columbia                      V6E 2E9
              ----------------------------                     -------
        (Address of Principal Executive Offices)               (Zip Code)


                                 (604) 669-8817
              (Registrant's telephone number, including area code)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[]   Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)
[]   Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)
[]   Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))
[]   Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))


<PAGE>

Section 4 - Matters Related to Accountants and Financial Statements
-------------------------------------------------------------------

Item 4.02 (a) Non - Reliance on  Previously  Issued  Financial  Statements  or a
Related Audit Report or Completed Interim Review.

     After  review of the  accounting  policies  of Dragon  Pharmaceutical  Inc.
("Dragon") and applicable accounting  pronouncements,  the Board of Directors of
Dragon  decided that the  reduction of a future  retirement  benefit  obligation
related  to the  acquisition  of a land  use  right  from  an  unrelated  former
state-owned  enterprise  in China by Oriental  Wave Holding  Limited  ("Oriental
Wave") in July  2003  should  have  been  accounted  for as a  reduction  to the
recorded  cost of the land use right  instead  of as a  non-operating  gain from
extinguishment  of  debt,  as  previously  disclosed  in  Oriental  Wave's  2004
financial statements. As a result, Oriental Wave's 2004 financial statements and
Dragon's financial statements for the quarterly periods ended March 31, 2005 and
June 30, 2005 have been or will be restated to reflect such change in accounting
treatment.

     During the  preparation  of Dragon's  financial  statements for the quarter
ended June 30, 2005, the Company's independent  auditors,  Ernst & Young, raised
an issue as to the propriety of the  application  of an accounting  principal in
connection with the reduction in future  retirement  benefits related to certain
prior employees of a former state-owned  enterprise in China assumed by Oriental
Wave,  which is a  wholly-owned  subsidiary  of the  Company.  Dragon  also held
discussions  with  the  subsidiary's  former  independent  accountants,  Webb  &
Company, as to this change in accounting treatment.

     After substantial  review of the facts and  circumstances  surrounding this
transaction,  and  extensive  discussion  and review of  appropriate  accounting
pronouncements, the Board of Directors determined that the transaction should be
recorded as a reduction to the recorded cost of the land use rights, and adopted
this  position on September  16, 2005.  The  reduction of the future  retirement
benefit obligation during 2004, totaling  $1,135,238,  which had been recognized
as a non-operating gain, has now been recorded as a reduction to the cost of the
land use right.  This  adjustment  also resulted in a reduction of  depreciation
expense of $11,352 during 2004. On a going forward basis, any similar  reduction
of the  retirement  benefit  obligation  will be treated as a  reduction  to the
recorded  cost of the land use rights.  This  position  was conveyed to Dragon's
independent accountant and Oriental Wave's former independent  accountant,  each
of whom concurred with this decision.

     As a result,  Oriental Wave's 2004 financial statements will be restated to
reflect the change in  accounting  treatment  and Dragon will file a Form 8-K to
file Oriental Wave's restated  financial  statements.  In addition,  Dragon will
amend its Form  10-QSB for the  quarter  ended  March 31,  2005 to reflect  this
change.  Dragon's Form 10-QSB for the quarter ended June 30, 2005 was filed with
the  Securities  and Exchange  Commission  on September 21, 2005 to reflect this
restatement.




<PAGE>


                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                   DRAGON PHARMACEUTICAL INC.
                                   (Registrant)


Dated:  September 23, 2005         By:  /s/ Maggie Deng
                                        -------------------------------------
                                        Maggie Deng
                                        Chief Operating Officer
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UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 8-K
                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

      Date of Report (Date of earliest event reported): September 16, 2005

                           DRAGON PHARMACEUTICAL INC.
             (Exact name of registrant as specified in its charter)

            Florida                       0-27937                 65-0142474
            -------                       -------                 ----------
 (State or Other Jurisdiction     (Commission File Number)      (I.R.S. Employer
         of Incorporation)                                Identification Number)

            1055 Hastings Street, Suite 1900
              Vancouver, British Columbia                      V6E 2E9
              ----------------------------                     -------
        (Address of Principal Executive Offices)               (Zip Code)

                                 (604) 669-8817
              (Registrant's telephone number, including area code)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[]   Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)
[]   Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)
[]   Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))
[]   Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))
Section 4 - Matters Related to Accountants and Financial Statements
-------------------------------------------------------------------

Item 4.02 (a) Non - Reliance on  Previously  Issued  Financial  Statements  or a
Related Audit Report or Completed Interim Review.

     After  review of the  accounting  policies  of Dragon  Pharmaceutical  Inc.
("Dragon") and applicable accounting  pronouncements,  the Board of Directors of
Dragon  decided that the  reduction of a future  retirement  benefit  obligation
related  to the  acquisition  of a land  use  right  from  an  unrelated  former
state-owned  enterprise  in China by Oriental  Wave Holding  Limited  ("Oriental
Wave") in July  2003  should  have  been  accounted  for as a  reduction  to the
recorded  cost of the land use right  instead  of as a  non-operating  gain from
extinguishment  of  debt,  as  previously  disclosed  in  Oriental  Wave's  2004
financial statements. As a result, Oriental Wave's 2004 financial statements and
Dragon's financial statements for the quarterly periods ended March 31, 2005 and
June 30, 2005 have been or will be restated to reflect such change in accounting
treatment.

     During the  preparation  of Dragon's  financial  statements for the quarter
ended June 30, 2005, the Company's independent  auditors,  Ernst & Young, raised
an issue as to the propriety of the  application  of an accounting  principal in
connection with the reduction in future  retirement  benefits related to certain
prior employees of a former state-owned  enterprise in China assumed by Oriental
Wave,  which is a  wholly-owned  subsidiary  of the  Company.  Dragon  also held
discussions  with  the  subsidiary's  former  independent  accountants,  Webb  &
Company, as to this change in accounting treatment.

     After substantial  review of the facts and  circumstances  surrounding this
transaction,  and  extensive  discussion  and review of  appropriate  accounting
pronouncements, the Board of Directors determined that the transaction should be
recorded as a reduction to the recorded cost of the land use rights, and adopted
this  position on September  16, 2005.  The  reduction of the future  retirement
benefit obligation during 2004, totaling  $1,135,238,  which had been recognized
as a non-operating gain, has now been recorded as a reduction to the cost of the
land use right.  This  adjustment  also resulted in a reduction of  depreciation
expense of $11,352 during 2004. On a going forward basis, any similar  reduction
of the  retirement  benefit  obligation  will be treated as a  reduction  to the
recorded  cost of the land use rights.  This  position  was conveyed to Dragon's
independent accountant and Oriental Wave's former independent  accountant,  each
of whom concurred with this decision.

     As a result,  Oriental Wave's 2004 financial statements will be restated to
reflect the change in  accounting  treatment  and Dragon will file a Form 8-K to
file Oriental Wave's restated  financial  statements.  In addition,  Dragon will
amend its Form  10-QSB for the  quarter  ended  March 31,  2005 to reflect  this
change.  Dragon's Form 10-QSB for the quarter ended June 30, 2005 was filed with
the  Securities  and Exchange  Commission  on September 21, 2005 to reflect this
restatement.
SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                   DRAGON PHARMACEUTICAL INC.
                                   (Registrant)

Dated:  September 23, 2005         By:  /s/ Maggie Deng
                                        -------------------------------------
                                        Maggie Deng
                                        Chief Operating Officer