Basically, it's extra fortified milk but fortified with milk rather than with protein or calcium additives.
Using a patented cold-filtration process, they filter milk into water, vitamins & minerals, lactose, protein, and fat and then recombine them to increase the protein and calcium while getting rid of lactose and reducing sugars.
Fairlife was originally produced by Select Milk Producers but in 2012, they partnered up with Coca-Cola to form Fairlife, LLC, which produces and sells the milk with Coca-Cola distributing the product nationwide.
Fairlife Ultra-Filtered Milk is available in fat-free, 2%, whole, and 2% chocolate varieties.
In my area, it costs a good bit more than regular milk and falls around the same prices as organic milk.
Photo via Fairlife.