UPDATE 1-New generics help India Dr Reddy's beat Q2 f'cast

* Net more than doubles to 2.17 bln rupees vs 1.05 year ago

* North America revenue rises 39 pct on new launches

* Europe sales drop 15 pct in Q2, German unit weighs

* Shares rise more than 6 pct in flat Mumbai market (Adds details)

BANGALORE, Oct 23 (Reuters) - Indian drug maker Dr Reddy's Laboratories Ltd (REDY.BO: Quote, Profile, Research) said on Friday quarterly profits doubled from a year ago helped by the launch of new generics abroad, beating forecast and sending its shares higher.

Global demand for generic drugs from companies such as Dr Reddy's and domestic rivals Ranbaxy Laboratories (RANB.BO: Quote, Profile, Research) and Cipla Ltd (CIPL.BO: Quote, Profile, Research) is booming as nations around the world battle rising healthcare costs.

Dr Reddy's plans to launch six to seven new generics in the U.S. in fiscal 2009/10 including blockbuster omeprazole, a generic version of AstraZeneca's (AZN.L: Quote, Profile, Research) Prilosec for treating stomach ulcers and acid reflux. [ID:nBOM539118] Last year, the New York-listed company (RDY.N: Quote, Profile, Research) launched acute migraine drug sumatriptan, a generic of GlaxoSmithKline's (GSK.L: Quote, Profile, Research) Imitrex, in the U.S. market.

Dr Reddy's reported a net profit of 2.17 billion rupees ($47 million) in July-September, its fiscal second quarter, compared with 1.05 billion rupees posted a year ago, under international accounting standards.

A Reuters survey of eight brokerages had forecast average net profit at 1.96 billion rupees.