The Collaborative International Dictionary of English v.0.48:

Pharmacy \Phar"ma*cy\, n. [OE. fermacie, OF. farmacie,
   pharmacie, F. pharmacie, Gr. farmakei`a, fr. farmakey`ein to
   administer or use medicines, fr. fa`rmakon medicine.]
   1. The art or practice of preparing and preserving drugs, and
      of compounding and dispensing medicines according to
      prescriptions of physicians; the occupation of an
      apothecary or a pharmaceutical chemist.
      [1913 Webster]

   2. A place where medicines are compounded; a drug store; an
      apothecary's shop.
      [1913 Webster]

WordNet (r) 3.0 (2006):

pharmacy
    n 1: the art and science of preparing and dispensing drugs and
         medicines, [syn: pharmacy, pharmaceutics]
    2: a retail shop where medicine and other articles are sold
       [syn: drugstore, apothecary's shop, chemist's,
       chemist's shop, pharmacy]