Date Set for Dragon Stockholder Meeting on Acquisition of Oriental Wave Holdings

Date Set for Dragon Stockholder Meeting on Acquisition of
Oriental Wave Holdings 


VANCOUVER, Dec. 7  /PRNewswire-FirstCall/ -- Dragon Pharmaceutical Inc. (OTC
BB: DRUG; TSX: DDD; BBSE: DRP) ("the Company") is pleased to announce that
January 11, 2005 has been set as the date for the annual stockholder meeting of
the Company to vote on the proposed acquisition of Oriental Wave Holdings,
Ltd., among a series of important proposals. The annual meeting of Dragon
stockholders will be held at Dragon's corporate offices at Suite 1900, 1055
West Hastings Street, Vancouver, Canada at 10:00 A.M. Pacific Time.

Stockholders of Dragon of record as of the close of business on November 29,
2004 will be entitled to vote at the meeting. On or about December 8, 2004, the
Company will send to these stockholders a copy of the definitive proxy
statement in connection to the annual meeting. If the acquisition is approved
by a simple majority of the outstanding shares voted at the meeting, Dragon and
Oriental Wave management teams currently anticipate to close the transaction by
mid-January 2005.

"We are delighted to present this proposal and other proposals to our
shareholders" said Dr. Alexander Wick, President and CEO of Dragon. "The
Company and Oriental Wave have worked diligently together in preparing the
document and addressing comments from the SEC and other regulatory agencies and
are proud to provide the extensive proxy statement being sent to shareholders.
In view of the bright future, the proposed acquisition of Oriental Wave merits
positive considerations by all Dragon shareholders. All shareholders should
read the proxy statement carefully."

  About Dragon Pharmaceutical Inc.
  --------------------------------


Dragon Pharmaceutical Inc. is an international bio-pharmaceutical company
headquartered in Vancouver, Canada, with a GMP production facility in Nanjing,
China. Dragon's EPO has been marketed to treat anemia due to renal failure and
surgery in 9 countries: China, India, Egypt, Brazil, Peru, Ecuador, the
Dominican Republic, Trinidad-Tobago and Kosovo. Additional regulatory
submissions are in progress throughout Central and Eastern Europe, Asia, Latin
America, the Middle East and Africa and the Company is in the final preparation
to enter the European Union market.

The foregoing may be deemed to be soliciting materials of Dragon in connection
with its definitive agreement to acquire Oriental Wave announced on June 14,
2004. This disclosure is being made in connection with Regulation of Takeovers
and Security Holder Communications (Release Nos. 33-7760 and 34- 42055) adopted
by the SEC and Rule 14a-12 under the Securities Exchange Act of 1934, as
amended. Dragon shareholders and other investors are urged to read the
definitive proxy statement that Dragon will file with the SEC and that will be
sent to shareholders in connection with the proposed acquisition, because it
contains important information about Dragon, Oriental Wave and related matters.
Dragon and its directors and executive officers may be deemed to be
participants in Dragon's solicitation of proxies from Dragon shareholders in
connection with the proposed acquisition. Information regarding the
participants and their security holdings can be found in the Form 10-KSB and
the definitive proxy statement to be filed with the SEC, which will be
available from the SEC and Dragon as described below. The definitive proxy
statement is available for free, both on the SEC web site (http://www.sec.gov/)
and from Dragon as follows:

  Garry Wong
  Dragon Pharmaceutical, Inc
  1900 - 1055 West Hastings Street, Vancouver, British Columbia, V6E 2E9
  Telephone: [phone] or North American Toll Free: 1-877-388-3784
  Fax: [phone]
  Email: 
  Website: http://www.dragonpharma.com/ or http://www.dragonbiotech.com/

DATASOURCE: Dragon Pharmaceuticals Inc.



CONTACT: Garry Wong, Dragon Pharmaceutical, Inc, 1900 - 1055 West

Hastings Street, Vancouver, British Columbia, V6E 2E9, Telephone:

[phone] or North American Toll Free: 1-877-388-3784, Fax:

[phone], Email: , Website: http://www.dragonpharma.com/

or http://www.dragonbiotech.com/

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