The following VBA example creates paragraph text, applies bold formatting to the fourth and fifth words, and italicizes the first word. It then copies the text range and pastes it in the second paragraph.
Sub Test()
Dim d As Document
Dim s As Shape
Dim s1 As Shape
Dim t As Text
Set d = CreateDocument
Set s = d.ActiveLayer.CreateParagraphText(3, 3, 5, 5, _
"This is an example.")
Set s1 = d.ActiveLayer.CreateParagraphText(7, 7, 9, 9)
Set t = s.Text
t.Story.Words(4, 2).Bold = True
t.Story.Words(1).Italic = True
t.Story.Copy
s1.Text.Story.Paste
End Sub