The above is true. Pharmaceutical sciences focuses a lot more on the formulation side though, producing drugs on industrial levels. They make you take a lot of organic chemistry, physiology, ect. You should look into what units you take (might be in the handbook), this will give you an idea of what happens in the course.
Pharmacology at the two GO8 universities in Australia seems to be a lot more fluid. You dont necessarily need organic chem or physiology for instance. I know at monash only about 2 units out of about 6 strictly focus on the area of making drugs. The rest are actual pharmacology, the affect the drug has on the body and the affect the body has on the drug (this might sound trivial but they're two separate fields).
That said, its arguable how useful and practical training you how to discover and industrially produce new drugs could be done at a university anyway, especially at an undergraduate level. A lot you'd pick up on the job or learn through doing these kind of things in honours or post grad.