Newnham & Slipp Pharmacy is recognized for its association with the reconstruction period after the Woodstock Fire of 1877, as well as its ownership by both the Baird family and E. W. Mair.

The building that hosts Newnham & Slipp was actually the third building on the location to host the pharmacy. The original store burned down in 1860, and its replacement was one of many downtown structures destroyed in the Woodstock Fire of 1877. The current building was part of a row of brick Italianate buildings erected along Woodstock's Main Street in 1878. As such, the building provides a good example of commercial stylings of the time, with a red brick 2-story massing, both rectangular and segmented arch windows, and a large wooden double door at the entrance.

The Newnham & Slipp Pharmacy began life as the Baird Company Ltd., founded by a then-twenty-year-old William T. Baird in 1839, shortly after his arrival in Woodstock. Baird would later become well-known for his military endeavours during the Fenian raids and additionally for his autobiography, "Seventy Years of New Brunswick", which focused on New Brunswick's military and political climate at the time.

Later in life, W. T. Baird passed the store on to his son, H. Paxton Baird. When the Baird family moved away in 1904, both the drugstore and their house were acquired by Mr. E. W. Mair, who had spent the last 22 years working as a clerk at the pharmacy. Mr. E. W. Mair would act as President and General Manager of the store, while the role of Vice President was given to Walter Shaw, and the duties of secretary and treasurer were taken care of by T. H. Drysdale.

E. W. Mair himself had an interesting life, being heavily involved in both business and community activities. He was Mayor of Woodstock from 1921 to 1922 and was additionally chairman of the Vocational School Board, director of the Agricultural Society, a member of the Woodstock School Board for 15 years, and a member of the Board of Trade. In terms of his business presence, Mair was President of the Ross Drug Co., Saint John, a director of the New Brunswick Telephone Co. Ltd., and a director of Woodstock Woodworking Co.