Dragon Completes Acquisition of Oriental Wave Holding Ltd. and Announces Appointment of Key Management Team VANCOUVER, Jan. 14 /PRNewswire-FirstCall/ -- Dragon Pharmaceutical Inc. (OTC BB: DRUG; TSX: DDD; BBSE: DRP) ("the Company") is pleased to announce that it has completed the acquisition of Oriental Wave Holding Ltd. At closing, and as described in Dragon's proxy statement dated December 8, 2004, Mr. Yanlin Han, Mr. Zhanguo Weng and Ms. Xuemei Liu were appointed to the Board of Directors that now consists of five members including Dr. Wick and Dr. Sun who were re-elected at the Company's annual meeting of shareholders. The Board of Directors also appointed the following individuals as the key management team: Mr. Yanlin Han as the Chief Executive Officer Dr. Alexander Wick as the President Mr. Zhanguo Weng as the Vice President, China Operation Mr. Garry Wong, CFA as the Chief Financial Officer Ms. Maggie Deng as the Chief Operating Officer "The first practical step to integrate the original Dragon and Oriental Wave into a new and efficient organization has already been started" said, Dr. Alexander Wick, President of Dragon. "A new and state-of-the-art production facility for EPO (Erythropoietin) using the proven cell-line and technology of Nanjing Huaxin Bio-pharmaceutical Co. Ltd., the Company's subsidiary in Nanjing, is being set up on Dragon's Chemical division campus in Datong, sharing the existing energy and administrative infrastructure. This campus will also house a new workshop for the freeze-drying of temperature sensitive pharmaceutical products, among them, Levofloxacin, a currently marketed product of the Company. About Dragon Pharmaceutical Inc. Dragon Pharmaceutical Inc. (Ticker: OTCBB: DRUG, TSX: DDD, BBSE: DRP) is an international pharmaceutical company headquartered in Vancouver, Canada, with 4 production facilities located in Nanjing and Datong, China. The Company currently produces more than 40 products in China and markets them in China as well as internationally. These products are organized under 3 distinct business divisions: a Pharma division for prescription and over-the-counter generic drugs, a Chemical division for bulk pharmaceutical chemicals such as Clavulanic Acid, 7-ACA and sterilized bulk drugs, and a Biotech division for EPO and in-licensed G-CSF. For the full year of 2003, the Company achieved pro-forma revenues of US$29.7 million and a net profit of US$5.59 million. For further information please contact: Dragon Pharmaceutical Inc. Garry Wong, CFA, IMBA Telephone: +1-(604)-669-8817 or North America Toll Free: 1-877-388-3784 Email: Website: http://www.dragonbiotech.com/ or http://www.dragonpharma.com/ or Renmark Financial Communications Inc. John Boidman : Sylvain Laberge : Media - Cynthia Lane : Telephone: +1-(514) 939-3989 Website: http://www.renmarkfinancial.com/ Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements, other than historical facts, included in the foregoing press release are forward-looking statements. These statements are based on management's beliefs and assumptions, and on information currently available to management. Forward- looking statements are not guarantees of future performance. They involve risk, uncertainties and assumptions including risks discussed under "Risks Associated With Dragon Pharmaceutical" in the Company's annual report on Form 10-K, SEC File No.: 0- 27937, all of which are incorporated herein by reference. The Company does not undertake the obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. DATASOURCE: Dragon Pharmaceutical Inc. CONTACT: Dragon Pharmaceutical Inc.: Garry Wong, CFA, IMBA, Telephone: (604) 669-8817 or North America Toll Free: 1-877-388-3784, Email: , Website: http://www.dragonbiotech.com/ or http://www.dragonpharma.com/; or Renmark Financial Communications Inc.: John Boidman: ; Sylvain Laberge: ; Media - Cynthia Lane: , Telephone: (514) 939-3989, Website: http://www.renmarkfinancial.com/

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