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The Goblin Formula was created by Oscorp, a company owned by Norman Osborn. The formula increases its subjects speed, strength, and stamina. It also turns it's subjects insane. The only two subjects it has been given to are Norman Osborn and his son, Harry Osborn.
The formula was used on lab rats and only one of them had the insanity effect. Later, Norman Osborn ordered his assistant, Mendel Stromm, to give him the formula. After Mendel gave him the formula, Norman killed him. The next day, not remembering anything from the previous night, Norman is informed that Mendel was murdered. Soon Norman was being controlled by the Green Goblin, Norman's second personality created by the formula, and becomes the first villain of Peter Parker/Spider-Man. Eventually Spider-Man found out that the Green Goblin was Norman Osborn. The Goblin tried to kill Spider-Man but accidently killed himself. Harry was devestated about his father's death. He thought Spider-Man killed his father because Spider-Man brought Norman's dead body to the mansion that he lived in before he died. Harry swore to avenge his father.
Harry Osborn is now the new owner of Oscorp. He saw a ghost in a mirror of his father telling him to avenge him. After disagreeing Harry throws a vase at the ghost and the window breaks, making Harry discover the Green Goblin's lair. Now Harry has everything he needs to kill Spider-Man.
Harry took the formula more times than his father. This outcome brought down his insanity levels and increased the speed, strength, and stamina even further. Soon Harry goes out to kill Peter, but is defeated and looses his memory. After that Harry and Peter are best friends again. Then one day Harry's amnesia went away and he had another encounter with his father's ghost (this is probably where Harry's insanity part of the formula kicks in) , telling Harry to temper with Peter's emotions. Eventually, Harry makes Peter think that Mary Jane Watson, Peter's girl friend, is cheating on him with Harry. Peter tries to get his revenge (with the Venom Symbiote controlling him). He and Harry fight in Harry's mansion and Peter defeats Harry. Then Harry tries to throw one of the bombs used by his father at Peter but misses and Peter deflects it, throwing it back at Harry. Later, Peter is separated from the symbiote. he askes Harry to help him fight Sandman and the returning Venom symbiote (with it's new host, Eddie Brock), who capture Mary Jane in order to kill Spider-Man. Then Harry's butler, Bernard, tells him that he cleaned his wound and noticed the blade that pirced him came from his glider. Harry, now noticing that Peter didn't kill his father, goes out to help Peter save Mary Jane. When he finally gets there, Peter was nearly killed by Sandman. Luckly Harry comes and saves him just in time. Harry and Peter keep working together until they finally save Marry Jane. Soon Venom traps Peter and Harry comes to save him. Harry makes the blades in his glider come out so he could stop Venom, but Venom takes the glider from under Harry. Venom tries to kill Peter with Harry's glider, but Harry jumps in the way to sacrifice himself to save Peter.
The Formula's Affects on its Subjects
According to Mendel Stromm, the formula not only increased a subject's strength and speed, but also brought on increased violence and aggression to go with the insanity effect.
- Norman Osborn, the first human given the formula, was eventually fully controlled by the insanity turning him into the Green Goblin. Soon, he stole weapons from his own company. However, because he took a earlier variant of his formula, he did not gain an accelerated healing rate.
- Harry Osborn, who took a more refined variant of the formula than his father, seemed to have more of the speed, strength, and stamina than the insanity. The insanity effect must have come in the form of the visions of his father's ghost and his hatred for Spider-Man. It also increased his healing to a limited extent, thereby allowing him to completely recover from a severe head injury overnight as well as healing from a damaged face with almost no signs of injury other than slight disfigurations. It may have also extended his health, pain resistance & longevity.
- Harry saw the ghost of his father before being exposed to the formula, bringing into question how sane he was before he took the formula.
- CX. 00009 is the label on the container which holds the dose of the formula Norman used on himself, suggesting it is the name of the formula in the Raimi series.
- OC 0001 is the label of the vial Harry holds at the end of Spiderman 2, suggesting the formula is slightly altered.