The stock closed at $11.84 on Thursday as the S&P 500 gained 1.02% to 7,209.01 and the Dow rose 1.62% to 49,652.14.
Perrigo beat peers including Johnson & Johnson, up 1.10%, and Procter & Gamble, up 0.43%, while Abbott Laboratories fell 0.59%.
Despite the gain, Perrigo remains 58.36% below its 52-week high of $28.44 reached on 25 July, and trading volume of 2.4 million stayed below its 50-day average.
With huge losses and falling sales, is Perrigo's 10% dividend a sustainable promise or a risky value trap?
Perrigo is shedding assets to slash debt. Is this a brilliant turnaround or a company selling its future?