Re: Ad Text
Yes, that should be approved. If you're selling anything to do with healthcare and/or medicines, make sure to read that policy and ensure that your product meets the restrictions to display Ads.
Where Google really restricts with Ad Copy is more around superlatives and unsubstantiated claims, but since you're saying that you formula is patented and that it's proven it should probably be allowed. Since you're saying proven, you might want to include content around how the formula has been proven within one click of your Landing Page.