When it comes to drug approvals, faster is always better, right?

That doesn't appear to be the case for Orexigen (NASDAQ:OREX), who recently disclosed that it might be able to resubmit a New Drug Application to the Food and Drug Administration for its obesity drug, Contrave, before the completion of its newest phase 3 trial. The company's stock jumped briefly on the news, as this scenario could speed up the approval process for the drug. The positive mood was short-lived, however, and the stock has continued to trail lower in recent days along with peers Vivus (NASDAQ:VVUS) and Arena Pharmaceuticals (NASDAQ:ARNA).

In the following video, health care bureau chief Brenton Flynn runs through the Orexigen news and the mixed signals coming from regulators on each side of the Atlantic.