In 1873, George L. Claflin & Co. (George L. Claflin, Nathaniel W. Smith, and F. J. Phillips) bought out the apothecary business of Joseph Balch who had been established in business in the City of Providence from 1817.

In the beginning of 1874, Phillips sold out his share of the company to C. A. Babcock who was head book-keeper of the firm at that time.

In 1875, Smith became ill and after a short period passed away, leaving Claflin and Babcock to run the business for several more years. In 1881 George prostrated a severe illness but he managed to continue in his capacity at the company. Babcock retired sometime in the early 1880's and George took control of the company assisted by his son Arthur W.. After a short time, George's second son, William L., was admitted into the business. A third son, Arthur W. was admitted as a partner in the company in 1885, and after George died in 1886 it was Arthur who took control of the firm.

Geo. L. Claflin & Co. operated a very successful business for many years wholesaling and retailing drugs, patent medicines, dye stuffs, chemicals, chemists' glassware, acids, paints, and pharmaceutical preparations to many apothecaries and drugstores. The company was located at 56, 58, 62, 64, and 66 South Main Street. The retail department was housed at 56-58 South Main while the wholesale department was located at 62-66 South Main.