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Coloplast shares rise after Q1 beat, new share buyback programme

COPENHAGEN, Feb 2 (Reuters) - Medical device maker Coloplast on Tuesday reported first-quarter earnings above expectations and said it would launch a new share buyback programme worth 500 million Danish crowns ($80.9 million), sending its shares higher.

The Danish company reported earnings before interest and tax (EBIT) of 1.54 billion Danish crowns in the three months to December 31, its first quarter, above the 1.48 billion forecast by analysts in a Refinitiv poll.

Shares traded 5% higher following the announcement. ($1 = 6.1784 Danish crowns) (Reporting by Tim Barsoe; Editing by Kirsten Donovan)

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