Texas Attorney General Ken Paxton has filed a lawsuit against Eli Lilly and Co. (NYSE:LLY), accusing the pharmaceutical giant of bribing medical providers to promote its most profitable drugs, including the widely used GLP-1 medications Mounjaro and Zepbound for diabetes and weight loss.

Texas Attorney General Ken Paxton alleges that Eli Lilly bribed Texas medical providers to provide the company's drugs. Eli Lilly denies the claims.

Lilly's weight-loss medications Mounjaro and Zepbound are gaining market share on Novo's Wegovy and Ozempic, but investors remain unconvinced.

Texas Attorney General Ken Paxton is accusing Eli Lilly and Co. of a kickback scheme to induce medical providers to prescribe the Indianapolis-based company’s drugs including blockbuster GLP-1 medications Mounjaro and Zepbound,