CEO David Ricks and other top executives have bought nearly $2.9B worth of company stock over the past few days as the Indiana-based drugmaker witnessed a rare selloff last week in reaction to disappointing late-stage trial data for its obesity pill,

What Happened? Shares of global pharmaceutical company Eli Lilly (NYSE:LLY) jumped 3.1% in the afternoon session after the stock rebounded following a decline the previous week. The stock had dropped sharply the previous week after the company released its Q2 2025 earnings report.

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.

Attorney General Paxton argues that the company’s programs and offerings were essentially bribes and resulted in millions in dollars charged to the state’s Medicaid program.

Despite posting record Q2 growth for its blockbuster weight loss and diabetes drug tirzepatide, Eli Lilly is facing legal challenge from a lawsuit filed in Texas that accuses the pharma company of bribing providers to prescribe its drugs.