Pierce? New formula? (6)
I believe the answer is:
recipe
'formula?' is the definition.
('recipe' can be a synonym of 'formula')
'pierce? new' is the wordplay.
'new' is an anagram indicator.
'pierce' anagrammed gives 'RECIPE'.
(Other definitions for recipe that I've seen before include "Formula for making something" , "Kitchener's instructions" , "Set of instructions for preparing a dish" , "Directions for making something" , "Cookery instructions" .)