Investors today commonly associate the obesity market with three main players: Orexigen (NASDAQ: OREX), which is still developing its drugs Contrave and Empatic, VIVUS (VVUS), which recently launched its therapeutic Qsymia, and Arena Pharmaceuticals (ARNA), which gained FDA approval for Belviq back in June and is poised to launch the drug with its partner Eisai.

Interestingly, a recent study showed that one of Eisai's epilepsy drugs, called Zonegran, may also be a potential weight-loss medicine. In the following video, health-care analysts Max Macaluso and David Williamson analyze this story and identify some things Arena investors should watch in both the near and long term.