By Connor Hart

Medicare insurers received a boost in late trading after the Trump administration said it plans to substantially increase payment rates next year. The Centers for Medicare and Medicaid Services said Monday it plans to raise rates by 5.06%, more than double the 2.23% increase proposed by the Biden administration in January. The agency said the higher rate in part reflected rising medical costs. Shares of CVS Health climbed 6.5%, to $68, in after-hours trading, while shares of UnitedHealth Group rose 6%, to $556.

Spire Global reached an agreement with Kpler regarding a disputed deal for the former company's maritime business. Spire agreed to sell its maritime business to Kpler for about $241 million in November. However, the company later filed a complaint against the buyer, alleging Kpler breached its obligations under the purchasing contract. Under the parties' new agreement, both will resolve the ongoing litigation and mutually release claims, assuming that the disputed sale closes by April 25. Shares jump 36%, to $10.15, in postmarket trading.

Pacira BioSciences said it entered a settlement regarding patent litigation for Exparel, a local anesthetic administered at the time of surgery. The non-opioid pain management company said the settlement with Fresenius Kabi USA and eVenus Pharmaceuticals Laboratories provides the parties with a license to the patents required to manufacture and sell certain volume-limited amounts of a generic bupivacaine liposome injectable suspension in the U.S. beginning in early 2030. Shares climb 19%, to $27.17, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 07, 2025 19:30 ET (23:30 GMT)

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