No Handouts for Drug Advertisements Act

This bill prohibits tax deductions for direct-to-consumer advertising expenses related to certain prescription drugs. It applies specifically to pharmaceutical companies (covered entities) that advertise prescription drugs or compounded drugs directly to the public through TV, radio, social media, websites, or billboards. The bill excludes advertising in medical journals from this restriction. The policy change takes effect for expenses paid after the bill's enactment date, impacting how pharmaceutical companies calculate taxable income for these advertising costs.