"New formula" refers to a fresh and different way of doing something or creating something, often involving changes or improvements to the original method or composition. Full definition
A new study on the digestion of milk could lead to the development of new formulas for premature babies, weight loss drinks and potentially new drug delivery systems. (sciencedaily.com)
The company has a lab which manages quality control and the development of new formulas for its own brands and those of other customers. (fooddrink-magazine.com)
New formula doesn't list the maximum values on the Guaranteed Analysis, except moisture and crude fiber. (catfooddispensersreviews.com)