Safe Internet Pharmacy Act of 2007

Safe Internet Pharmacy Act of 2007 - Amends the Federal Food, Drug, and Cosmetic Act to set forth the conditions under which a licensed Internet pharmacy may dispense or offer to dispense a prescription drug to a person in the United States. Requires an Internet pharmacy to: (1) maintain patient medication profiles; (2) ensure patient confidentiality; (3) offer interactive and meaningful consultation by a licensed pharmacist to the caregiver or patient; (4) establish a mechanism for patients to report errors and suspected and adverse drug reactions and for the pharmacy to document its response and report such information to the Food and Drug Administration (FDA); and (5) verify the validity of prescriptions. Allows an Internet pharmacy to dispense a prescription for a controlled substance only if the treating provider confirms the accuracy of the prescription by direct communication.

Allows the Secretary of Health and Human Services to suspend or terminate the license of an Internet pharmacy.

Directs the Board of Governors of the Federal Reserve System to promulgate regulations to establish policies and procedures that are reasonably designed to prevent the introduction or completion of restricted transactions with unlicensed Internet pharmacies into a designated payment system.

Requires the Secretary to provide for a system to identify and report Internet pharmacy websites in violation of federal or state law.

Prohibits: (1) the ownership or operation of an Internet pharmacy in violation of this Act; and (2) the representation by an Internet pharmacy that a prescription drug may be obtained without a prescription. Sets forth penalties for violations of this Act.