Special formulation was our bond they say (7)

I believe the answer is:

linctus

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'special formulation' is the definition.
(I've seen this before)

I cannot understand how the rest of the clue works.

(Other definitions for linctus that I've seen before include "Cough medicine" , "Thick cough mixture" , "Syrupy medicine to relieve sore throats" , "Cough remedy" , "Syrup that may see a cough off" .)

I've seen this clue in The Sun.

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