The College of Pharmaceutical Sciences was founded as the College of Pharmacy of the City of New York by a group of apothecaries, physicians and wholesale drug merchants in 1829 for the education of apprentices; it was the second college of pharmacy to be organized in the United States. Instruction began in December 1829 and the first diploma was awarded in 1831.

In 1894, the College constructed a modern facility on West 68th Street near Columbus Avenue where it remained for the rest of its existence. In 1904, it entered into an affiliation agreement with Columbia College (Columbia University after 1912), which allowed it to retain its corporate and financial independence while issuing its degrees under Columbia's name. The College never became an integral unit of the University. In 1966, the institution's name was changed to the College of Pharmaceutical Sciences. The College closed in 1976.

Members of the College had to be an “adult of good moral character who shall have been actively engaged as a pharmacist or druggist for a term of at least four years” [By-Laws, 1925] and who had made a financial contribution to the College. They were elected by the Board of Trustees and, in turn, members were responsible for electing the Trustees. Members also served as the College’s delegates to the annual meetings of the American Pharmaceutical Association and the New York State Pharmaceutical Association.