Arena Pharmaceuticals had a rough quarter, but the results don't really matter. The company is waiting on DEA scheduling before it can start selling its obesity drug, Belviq. However, there's one place Belviq isn't going on sale anytime soon: Europe. Arena is voluntarily pulling Belviq from the approval process, with no set timetable for resubmission.

VIVUS, meanwhile, has seen Qsymia get rejected in Europe, and in the following video, health-care analyst David Williamson looks at whether any of the new obesity drugs have an EU approval in their future. Watch and find out what it all means for investors.