The sticking point is going to be getting your transcripts received in time. When I submitted transcripts, it took nearly 2 weeks for PharmCAS to mark them received. You just have to click submit on a complete application with all fees paid & all transcripts received by February 1 for PharmCAS to consider your application complete - the GPA calculation can be done afterwards and your application will still be considered "on time." You will want to call PharmCAS and find out whether they go by the post mark on the transcripts or what. My suspicion is that they have to mark the transcripts received before Feb 1, in which case it's probably too late.
However, the school you want to apply to may require test scores (PCAT, TOEFL) and LoRs - you will probably want to ask what their policy is on receiving those items late. First, the PCAT score will take over a week to get to PharmCAS; second, if you can scare up LoRs quickly, I'd still allot more than a week so your writers don't get turned off by last-minute planning. If the school is going to consider your application late if they don't receive the whole package by February 1, then I'd say yes, it's too late to apply.
I nominate this thread to be merged with the PharmCAS thread.