The pharmacy of the Vescovado (the Bishop's residence) or of the Ferri was founded in 1397 by Andrea Franchi, at the time Bishop of Pistoia. The double name derives from the fact that the pharmacy was originally situated on the ground floor of the old Palazzo del Vescovo, or Bishop's Palace (now Palazzo Landini), whose property was delimited by an iron railing. The pharmacy was managed by numerous "speziali", among them Taddeo di Antonio Cioci, who became famous for his "galanterie" or "cialderie", sweets prepared for the weddings of the nobility and other festivals.

On the original premises, near Piazza del Duomo, occupied today by the local Tourist Board, some of the ancient pharmacy's furnishings are kept. These consist of the original "irons" that marked the boundaries of the bishop's property; the canopy, completely restored, and the ancient doors now placed on the main facade, bearing the carved inscription "Farmacia de' Ferri". Still visible today in the interior are the frescoes with coats of arms and "grotesque" decorations that covered the cross-vaulted ceiling of the ancient pharmacy. On one of the lunettes appears a scroll with the words "Farmacia de' Ferri del Vescovado Fondata dal B. Andrea Franchi A.D. 1397". Since 1974, the pharmacy's commercial activity has been moved to Via Pacini.