The phrase "are now formulating" is correct and usable in written English.
It can be used when describing an ongoing process of creating or developing something, typically in a formal or professional context.
Example: "The committee members are now formulating a new strategy to improve community engagement."
Alternatives: "are currently developing" or "are in the process of creating".
The basics of the fourth paradigm – sustainable chemical engineering – are now formulated.
Main results for the linear singular equation (3.1) are now formulated in the following theorems.
Countless formal measures, informal norms and overarching discourses for regulating global affairs are now formulated and implemented through complex transnational networks that combine substate agencies, nation-states, regional bodies, global institutions, and non-state actors (Scholte 2014, 4).
An increasing number of therapeutic proteins, especially monoclonal antibodies, are now formulated at high concentrations (150 mg/ml and more) (14, 15).
Enteral feeds are now formulated with active nutrients that may help reduce oxidative damage to cells and tissues, modulate inflammation, enhance beneficial stress responses, and improve feeding tolerance.
Although this remains the case in some European countries, most now have a specific factor IX product for treatment of bleeding in haemophilia B. PCCs are now formulated and approved specifically for vitamin K deficiency.
She is now formulating an explanatory model of female desire that will appear later this year in Annual Review of Sex Research.
The agency is now formulating new guidelines to test G.M. products and to label foods as "G.M.-free" but says it lacks a legal basis to require labeling of G.M. foods.
The alliance he formed won unheard of clout in United Companies' bankruptcy proceedings, and Professor Stoller has led the shareholder's equity committee, which is now formulating a reorganization plan for the company.
The creatures were introduced by well-meaning technocrats trying to cure a different problem, but the carp have grown so large and numerous that the government is now formulating expensive plans to curb them.
