A handful of drug companies with big vaccine portfolios are especially well-positioned to capitalize on the effects of climate change, according to a Morgan Stanley investors’ note.

The big picture: Climate change will be a business opportunity for some pharmaceutical companies. That’s nothing cynical — infectious diseases will spread faster and farther as the climate warms, and we treat infectious diseases with drugs.

The bottom line: Vaccine development is hard and expensive, so companies that are already in that business will have an upper hand, Morgan Stanley’s analysts wrote.

  • Sanofi and GlaxoSmithKline are at the top of the heap, the bank says, given their existing pipelines and manufacturing capacity.
  • Takeda and Merck both have vaccines in the works for dengue fever, one of the diseases that climate change is likely to exacerbate.
  • Janssen and Pfizer are both active in the vaccines market, but would need to establish new research programs to take on tropical diseases, per Morgan Stanley.

Go deeper: Climate change could be big business for pharma

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Cleanup on aisle Biden

Photo: Andrew Caballero-Reynolds/AFP via Getty Images

After two gaffes and a low blow from President Trump questioning his faith, Joe Biden spent Thursday evening off his own message — clarifying comments and responding to attacks.

Why it matters: Biden’s responses reflect what we could see a lot more of in the next few months — cringeworthy comments and Trump smears, smacking into each other and pulling the Democrat off course.

2020 election strategy: Hire all the lawyers

Illustration: Eniola Odetunde/Axios

The coronavirus has sent overall U.S. unemployment into the double digits — but it's a sort of full-employment act for election law attorneys.

The big picture: The prospect of extended court fights over COVID-19-related voting changes, an absentee ballot avalanche, foreign interference and contested presidential results has prompted a hire-all-the-lawyers binge by candidates and campaigns — not just in swing states but around the country.

Right-wing media defanged by dissolving anti-Biden storylines

Data: NewsWhip; Chart: Naema Ahmed/Axios

The three biggest anti-Joe Biden storylines in right-wing media over the last year have either fizzled or are getting less online traction than they used to, according to data from NewsWhip provided exclusively to Axios.

Why it matters: This dynamic has rendered a formidable media ecosystem less effective in boosting President Trump as we move into the heart of the 2020 campaign.