Hillary Peckham and her family began researching medical marijuana for its homeopathic characteristics when Hillary’s grandmother was diagnosed with amyotrophic lateral sclerosis and prescribed a number of drugs with unpleasant side effects. The locals of Westchester County had an inspiration for a family business while doing market research.
A few years later, in 2015, Peckham, along with her mother and sister, formed Etain, one of the first five businesses to be granted a license to operate under New York’s medical marijuana program. As the state gradually implements regulations for recreational marijuana use, the corporation is racing to get a foothold in the booming new industry.
As Peckham put it, “our objective is to be able to get the Etain brand into the adult-use market and expand it so that we can be one of the main brands that are recognized and essential to New York.” Peckham oversaw the spread of Etain’s manufacturing and dispensing operations across the state.
In New York City, Syracuse, Kingston, and Yonkers, the firm operate retail medical marijuana stores. It was forced to close its Albany branch in 2017 so that it could open a shop in New York City, as the state allows only four dispensaries per medical marijuana business.
The recent $247 million sale of Etain by Canadian investment firm RIV Capital ends the company’s eight-year run as the only women-owned medicinal marijuana provider in the state.
Despite Peckham’s mother Amy Peckham stepping down as CEO to join the firm board, Hillary Peckham highlighted that Etain’s purpose of empowering women in business and the marketplace remains unchanged.
Peckham, the new public face of the brand, has stated that she and her sister Keeley will be responsible for leading the company through the transition to the recreational cannabis market once it becomes legal in New York State in March 2021.
Consumers in the adult-use market frequently seek out nontraditional remedies, such as cannabis oil, to address issues including chronic pain and insomnia. “I think that the medicinal program corresponds nicely with the many health and wellness reasons to use cannabis,” stated the recent graduate of Hamilton College.
However, businesses like Etain, which rely on the state’s medicinal marijuana program for revenue, will face new hurdles as a result of the expansion potential presented by the new recreational adult-use market. A patient certification from a physician who is enrolled in the state program is required before a customer can legally acquire medical marijuana.
It is possible to apply for a state registration card after receiving the recommendation. While the state-issued ID card is free of charge, the cost of visiting a doctor who participates in the program may exceed $100.
The Daily Gazette claimed at the beginning of 2022 that there were 150,000 participants in the program. According to the New York State Office of Cannabis Management, the number reduced to 122,805 as of January 1, 2023.
Peckham noted that as the industry develops, less customers would be interested in Etain’s therapeutic offerings, making the company’s expansion into the recreational sector necessary. The competitive landscape has changed a lot, and it’s hard to generate interest in the medical program,” he said, adding that their main rivals are now unlicensed businesses offering their products at lower prices.
In order to access the recreational market, the business is waiting for state regulators to issue approved criteria. Meanwhile, Peckham is making an effort to inform customers about the advantages of the health plan.
First, according to Peckham, clients won’t have to deal with the long lineups and crowds that she anticipates will plague recreational dispensaries in their early phases of operation because there are more medical stores operating. She added that medical marijuana suppliers are subject to stricter regulations and must supply a wider variety of goods.
Peckham used the example of Housing Works Cannabis Co., the first recreational marijuana shop in the state, which debuted at the end of last month in Manhattan.
In comparison to Etain, which also sells capsules, oral sprays, tinctures, vaporizers, dissolvable powders, lotions, and lozenges, the shop only sells four product categories: pre-rolls, raw flower, edibles, and vapes and cartridges.
Peckham said that the company’s products could be trusted because they were made with “integrity” and “a trust that you can have that we’re trying to do things in a way that is benefiting the patient”
If you have a valid medical marijuana card, you can try any of the brand’s many different products, which are all organized according to the amount of CBD, THC, and other cannabinoids they contain.
Cannabidiol (CBD) in therapeutically-effective doses has been shown to alleviate symptoms of epilepsy and other neurological disorders, such as Huntington’s disease and Parkinson’s disease, without inducing euphoria. Extremely high THC levels, on the other hand, produce intense feelings of euphoria and may help people with nausea, chronic pain, and neurodegenerative disorders.