No Handouts for Drug Advertisements Act

Disallow tax deductions for direct-to-consumer advertising of certain prescription and compounded drugs. This bill would add Section 280I to the Internal Revenue Code to bar deductions for expenses tied to advertising aimed primarily at the general public by drug sponsors or owners of outsourcing facilities, while allowing an exception for ads in journals and periodicals. It defines covered drugs as prescription products and drugs compounded under sections 503A or 503B, and lists channels like TV, radio, direct mail, billboards, the internet, social media, and mobile apps. The rule would apply to amounts paid or incurred after enactment for taxable years ending after that date.