Hey Piyush,
Lateral Entry is considered when an individual has done its diploma from a government approved institution then they are eligible for the entry in the 2nd year Bachelor's degree of that course.
By doing 1st year of B.Pharma from any institution wouldn't make you eligible to do 2nd year from any other institution, you have to restart the course from other institution.
As completing one year of a course would not provide you any degree and diploma in itself is of 3 years.
I will guide you if the other institution you want to take admission in is enough reputed than the previous one, then don't worry that one year would give you experience and knowledge and don't think about wastage of time.
Good Luck!