DRAGON PHARMACEUTICALS INC
424B3, 2001-01-08
PHARMACEUTICAL PREPARATIONS
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                                                Filed Pursuant to Rule 424(b)(3)
                                                Registration No. 333-37064




                           Dragon Pharmaceutical Inc.

                           Prospectus Supplement No. 1
                     (To Prospectus Dated December 29, 2000)



     You should read this prospectus supplement and related prospectus carefully
before before you invest.  Both  documents  contain  information  you should
consider when making your investment decision.

     On  December  31,  2000,  the  board of  directors  agreed  to  extend  the
expiration date of warrants to purchase  4,258,000  shares of common stock until
March 1, 2001.  All other terms  regarding the warrants,  including the exercise
price of $2.50 per share, remain the same. The warrants were issued in financing
transactions and were to expire on January 1, 2001.















            The date of this prospectus supplement is January 2, 2001



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