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The Google Ads policy on healthcare and medicines will be updated in around mid December 2012.
Australia:
For ads targeting Australia, the policy will change to allow the promotion of online pharmacies if you are registered with either the Pharmacy Guild of Australia or Medicare Australia and don't promote prescription drugs in your ads and landing pages.
New Zealand:
For ads targeting New Zealand, we'll no longer accept ads that promote online pharmacies unless you have been registered by the New Zealand Ministry of Health and provide us with your registration details from the New Zealand Ministry of Health. The New Zealand Ministry of Health has replaced the Pharmacy Guild and the Pharmaceutical Society of New Zealand as the certifying body for pharmacies, and certifications provided by the Pharmacy Guild or the Pharmaceutical Society of New Zealand will no longer be accepted by Google.
After the new policy goes into effect, the policy description will be updated to reflect these changes.
(Posted December 2012)