If you fail a module then you will get the chance to either resit the exam(s) or the coursework, depending which component made you fail that module. These resits can take place between August and September; differs for each uni. This is called a referral.
If you pass the referral then you will gain the credits for that module and be able to progress to the next year of your pharmacy degree. Be warned that no matter what mark you get in the referral the mark you awarded for that module may well be capped at 40%.
If you fail the referral then you will probably have to go talk to someone about your future at that school of pharmacy. If it was only one module you failed or you didn't fail by much then they may invite you back to resit that module next year. You will only sit that module all year, you will not progress to the next year and you most certainly won't collect £200. However, this is better than being thrown out. If, however, you fail more than one module or fail the resit by miles then they may not feel obliged to invite you back to resit it the following year.
The morale of this story is to make sure you pass the resits. You are likely to be revising for less modules than the original set so this should make it easier to cover all the necessary material.