Hello Ateet, 

Yes,  you can take lateral entry in B Pharm. In India, the lateral entry for bpharm 2nd Year ( 3rd semester)  is decided through the entrance test and also through the merit based. 

Some of the universities / colleges in India conduct their own entrance exam. Like : University institute of pharmaceutical sciences , Chandigarh. JADAVPUR University through wbjee. And so on. And few of the colleges through merit based as like DIPSRU.

Hope it helps. 

Thank you.