Shares closed at $12.26 on Wednesday, marking a second straight gain as trading volume rose to 4.4 million, above the 50-day average of 3.5 million.
The move came during a broad market rally, with the S&P 500 up 1.46% and the Dow Jones Industrial Average rising 1.24%.
Perrigo still finished 56.88% below its 52-week high of $28.44 reached on 25 July, while Johnson & Johnson and Abbott fell and Procter & Gamble gained.
With sales down but its stock up, is Perrigo's turnaround plan a real recovery or just a temporary fix?
Can Perrigo sustain its 10% dividend, or is a potential takeover the only real hope left for investors?