Depending on the context (does the formula solve problems? And if so, do you want to make it clear that it doesn't solve them all?) you may use:

panacea

1. something that will solve all problems:

Technology is not a panacea for all our problems.

2. something that will cure all illnesses

https://dictionary.cambridge.org/dictionary/english/panacea

Depending on the context (does the formula solve problems? And if so, do you want to make it clear that it doesn't solve them all?) you may use:

panacea

1. something that will solve all problems:

Technology is not a panacea for all our problems.

2. something that will cure all illnesses

Cambridge