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): March 24, 2004

                           DRAGON PHARMACEUTICAL INC.
               (Exact Name of Registrant as Specified in Charter)


          Florida                          0-27937                65-0142474
(State or Other Jurisdiction of     Commission File Number)     (IRS Employer
        Incorporation)                                       Identification No.)

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




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

                                       N/A
          (Former Name or Former Address, if Changed Since Last Report)


<PAGE>




Item 7. Financial Statements and Exhibits

     (c) Exhibits

          99.1 Press release dated March 24, 2004.

Item 9. Other Regulation FD Disclosure

     The purpose of this current  report on Form 8-K is to disclose  that Dragon
Pharmaceutical  Inc.  issued a press  release on March 24, 2004  announcing  the
entering  into of a letter of intent to merge with  Oriental  Wave  Holding  Ltd
which owns a China-based  pharmaceutical  company  engaged in the  production of
chemical  intermediates  and  active  pharmaceutical  ingredients,  formulation,
marketing and sale of generic drugs. The press release is attached as an exhibit
to this Form 8-K.

                                   SIGNATURES

     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.



Date: March 24, 2004          By:      /s/ Matthew Kavanagh
                                     ------------------------------------------
                              Name:  Matthew Kavanagh
                              Title: Director of Finance and Compliance
                                    (Principal Financial and Accounting Officer)
[{"type": "8-K", "sequence": "1", "filename": "form8k03242004.txt", "description": "FORM 8-K MARCH 24, 2004", "secsgml_size_bytes": 2447}]
{"company-data": {"conformed-name": "DRAGON PHARMACEUTICALS INC", "cik": "0001075206", "assigned-sic": "2834", "irs-number": "650142474", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27937", "film-number": "04687806"}, "business-address": {"street1": "543 GRANVILLE STREET SUITE 1200", "city": "VANCOUVER BC V6C 1X8", "state": "A1"}, "mail-address": {"street1": "543 GRANVILLE STREET SUITE 1200", "street2": "VANCOUVER BRITISH COLUMBIA CANADA V6C1X", "city": "VANCOUVER BRITISH CO"}}
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): March 24, 2004

                           DRAGON PHARMACEUTICAL INC.
               (Exact Name of Registrant as Specified in Charter)

          Florida                          0-27937                65-0142474
(State or Other Jurisdiction of     Commission File Number)     (IRS Employer
        Incorporation)                                       Identification No.)

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

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

                                       N/A
          (Former Name or Former Address, if Changed Since Last Report)
Item 7. Financial Statements and Exhibits

     (c) Exhibits

          99.1 Press release dated March 24, 2004.

Item 9. Other Regulation FD Disclosure

     The purpose of this current  report on Form 8-K is to disclose  that Dragon
Pharmaceutical  Inc.  issued a press  release on March 24, 2004  announcing  the
entering  into of a letter of intent to merge with  Oriental  Wave  Holding  Ltd
which owns a China-based  pharmaceutical  company  engaged in the  production of
chemical  intermediates  and  active  pharmaceutical  ingredients,  formulation,
marketing and sale of generic drugs. The press release is attached as an exhibit
to this Form 8-K.

                                   SIGNATURES

     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.

Date: March 24, 2004          By:      /s/ Matthew Kavanagh
                                     ------------------------------------------
                              Name:  Matthew Kavanagh
                              Title: Director of Finance and Compliance
                                    (Principal Financial and Accounting Officer)