This study assessed the effectiveness of a methodology aimed at developing prospective pharmacists’ professionally oriented English lexical competence in reading and speaking during individual study. The methodology considered students’ interests and experience, forming lexical skills in reading, speaking, listening, and writing, integration with professional subjects, learning metacognitive, cognitive, and compensatory strategies, enhancing students’ autonomy through purposeful forming their reflexive abilities, developing professionally oriented English lexical competence in reading and speaking within three stages, using the suggested system of exercises that consists of corresponding groups (correlating with the stages) and subgroups. The paper also substantiates the criteria for assessing the level of prospective pharmacists in mastering professionally oriented English lexical competence in reading and speaking: the accuracy of understanding, the correctness of guessing a lexical unit’s meaning, the adequacy of lexical unit’s usage, and lexical concentration. In addition, the paper describes the results of the experiment and validates the data obtained with the help of the multifunctional statistic criterion ∏* – of Fishers angular transformation.