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): March 24, 2005
DRAGON PHARMACEUTICAL INC.
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(Exact name of registrant as specified in its charter)
Florida 0-27937 65-0142474
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(State or Other Jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
1055 Hastings Street, Suite 1900
Vancouver, British Columbia V6E 2E9
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(Address of Principal Executive Offices) (Zip Code)
(604) 669-8817
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(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 2 - Financial Information
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Item 2.02 Results of Operations and Financial Condition
Dragon Pharmaceutical Inc. announced its results for the year ended
December 31, 2004 on the attached press release.
Item 2.05 Cost Associated with Exit or Disposal Activities
At the Board of Directors' meeting held on March 24, 2005, the Board
decided to relocate its biotech production facility at Nanjing, China and
construct a new facility in Datong, China. It is anticipated that the Nanjing
production facility will be closed in August 2005. In connection with this
decision, the Company has written off and accelerated the depreciation and
amortization of certain assets related to the Nanjing production facility of
$938,000 during the last quarter of 2004. The Company believes that the
estimated cost to build the biotech production facility in Datong will be
approximately $2 million.
Section 9 - Financial Statements and Exhibits
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Item 9.01 Financial Statements and Exhibits
Exhibit No. Exhibit Description
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99 Press release announcing year end results
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.,
a Florida Corporation
Dated: March 29, 2005 /s/ Maggie Deng
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Maggie Deng
Chief Operating Officer
EXHIBIT INDEX
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Exhibit No. Description
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99 Press release dated March 30, 2005 titled "Dragon
Announces 2004 Year End Results"