Vaccine Shortage Preparedness Act of 2008

Vaccine Shortage Preparedness Act of 2008 - Amends the Social Security Act to authorize the Secretary of Health and Human Services to sell to public health departments or back to the manufacturers such quantities of the six-month supply of pediatric vaccines acquired for unanticipated needs as the Secretary determines appropriate. Makes proceeds of such sales available only for purposes of procuring pediatric vaccine stockpiles.

Amends the Federal Food, Drug, and Cosmetic Act to require: (1) a manufacturer of an approved vaccine to notify the Secretary 12 months prior to discontinuing manufacture of the vaccine, with exceptions; and (2) the Secretary, promptly after receiving such notice and after determining that a reduction applies, to inform the Director of the Centers for Disease Control and Prevention (CDC).

Amends the Public Health Service Act to authorize the Secretary to declare a public health emergency if there is: (1) a shortage of an approved vaccine for an infectious disease; and (2) a significant risk of a significant outbreak of such disease. Requires: (1) each manufacturer or distributor of such vaccine to then provide the Secretary with the location of vaccine supplies; and (2) the Secretary, upon request, to provide such information to a state, provided the state agrees to restrict use of the information to facilitating access to vaccines and to otherwise keep such information confidential.

Requires the Secretary to study successful models and alternatives for tracking and facilitating reallocation of vaccine at the local level in times of shortage or emergency.