I'd say there's as much upward mobility as there is for a teacher. In my area at least, you can pretty much start and retire as a teacher rather comfortably. If you want to get into higher positions, like department head, vice-principal or principal, it is possible, but a lot of people are quite happy where they are.
Being a pharmacist is no different, you can head up into higher-pay positions that are more administrative or clinical, but you'll by no means starve if you don't.
I guess in a hospital environment you can move into more clinical positions, or more managerial positions, which may lead to somewhat high positions within the hospital itself.