Define big deal 🙂 Pre-reqs are pre-reqs and must be compoleted unless you are specifically excused from school from taking it.
Speech seems to be a stringent pre-req. Even people with graduate degrees have to take it. You can still apply w/out taking it, just make sure to complete it by the deadline set by each school.
Regardless of it being a pre-req, you will want to take it because you will be making many presentations in pharmacy school and most probably in your 4th year rotations. If you do a residency, again, you will be doing presentations. The more you practice, the better you get and it's a good idea to start early.
The list of prereqs aren't there as a suggestion... if speech is required you HAVE to take it before you matriculate. Communications is a necessary skill many people oversee. Not only for just public speaking for presentations in class, but most pharmacy school incorporate classes to harness your interpersonal skills so you can counsel effectively and sensitively.