The Globe and Mail reports in its Tuesday edition that the Canadian health-care sector has been an investor's nightmare. Globe columnist Gordon Pape writes that our leading drug maker, which is not really Canadian at all, is Valeant Pharmaceuticals and we all know what happened there. The stock, which was once more than $300 a share, now trades at less than $15. Valeant's share-price collapse has dragged down the tiny S&P/TSX capped health-care index. It is off 3.3 per cent year to date and 25.1 per cent over the past 12 months. Who would want to put money there? This index should not exist at all. It only covers five companies and two, Extendicare and Chartwell, operate long-term-care facilities. Of the other two, Knight Therapeutics is in the business of acquiring or in-licensing pharmaceutical products for the Canadian and select international markets. Only ProMetic is actively involved in drug development but it is a small company that posted a $111-million loss in 2016. If you really want to invest in a major biotech, you have to look to the United States. The sector has been under pressure recently because of political uncertainty in the U.S., which means there are some good values available now.