That is a good question. There has been an increase in recent years in the number of pharmacists qualifying, this has lead to more competition in the job market. Where there has been some saturation in some areas of pharmacy practice, new areas are opening up e.g. roles in emergency medicine
In terms of employers, they look for a number of things in a potential employee including degree classification, experience, skills etc. It is true that employers may look to the reputation of the University the student has graduated from, they look to the reputation of the University for the subject (which is different than the reputation of the University overall).
Hope that helps.
Rabia