Saving Our Community Pharmacies Act of 2007

Saving Our Community Pharmacies Act of 2007 - Amends title XIX (Medicaid) of the Social Security Act to provide for: (1) use of median retail acquisition cost as the basis for Medicaid reimbursement limits on generic drugs; and (2) establishment of an evidence-based prescription drug program.

Directs the Comptroller General to study and report to Congress on the costs of community retail pharmacies to dispense prescription drugs.