The millionaire millennial seeking the presidency: How did Gareth Sheridan get so rich?
Much of the Irish public were introduced to 35-year-old Sheridan for the first time this week as a millionaire, pharmaceutical tycoon who recently returned to Ireland having spent the last seven years building up his company in the US.
But how, exactly, did he earn his millions? And what does his company do?
Acquisitions and mergers
Nurtiband, a US-based healthcare-led company valued at approximately $80m, was started by Sheridan in 2012, during his final year at DIT in Dublin, where he was studying businesses and management.
Taking inspiration from a transdermal patch his father had for a heart condition, Sheridan wrote his undergraduate thesis on providing properly-dosed medicine to patients through more accessible means, like patches, which are less likely to abuse.
Early social media posts from Sheridan show that the company began by selling supplements, such as energy and metabolism-boosting patches, but the Dubliner wanted to branch out into the opioid market.
Former Áras contender Seán Gallagher
was later enlisted as the company's President
(he has since left and has no current relationship with Sheridan) as the CEO worked towards getting the company listed on the Nasdaq stock exchange.
Nutriband's strategy focused on carrying out a number of mergers and acquisitions, purchasing companies through its own stock options as a private company, over the last ten years, Sheridan explained on
The Entrepreneur Experiment
podcast in April.
Sheridan focused on merging with firms with existing specialities in pharmaceuticals and biotechnology. It listed on the New York-based stock exchanged in October 2023, generating over $6m on its first day.
Nutriband has now focused wholly on opioids through transdermal patches – similar to products used for nicotine-replacement therapy.
Opioids, a type of pain-relief medication, have proven to be addictive among some patients. While they are an effective method to treat chronic pain, doctors – particularly in the US – have been reluctant to prescribe the medicines.
Image posted by Sheridan in 2023 after his company was listed on the Nasdaq stock exchange in New York.
Gareth Sheridan
Gareth Sheridan
As a result, more people have sought to purchase opioids illegally, and the black market drugs trade responded by introducing potent or synthetic alternatives over the last decade. The most-famous of these in the US is fentanyl, currently.
Sheridan said that the most-important of Nutriband's acquisitions was the purchase of 4P Therapeutics in 2018, a company from two pharma veterans who created
AVERSA technology
, which prevents the misuse of opioids. It is today his lead product.
During one acquisition, Nutriband
pulled out of purchasing the manufacturer of transdermal patches
. It was subsequently reported that a lawyer representing the firm did
not disclose their ownership position in both
companies.
Asked about this on RTÉ Radio One yesterday, Sheridan explained that it was the only time that his firm had faced any trouble with US authorities and that, for Nutriband, it was seen as a minor issue and required the firm to correct submitted paperwork.
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Unique selling point
Sheridan has said he wants Nutriband to benefit those who are ill, developing patches that provide patients with a safe dose of medicines that are commonly abused – primarily opioids – targeting those who are in need of the controversial medicines.
If abused, the drugs can cause long-term health complications, impact organ health and – in the case of synthetic and potent alternatives especially – minor doses can result in death.
We're up and running!
Excited to have announced my intention to seek a nomination for the upcoming Presidential election.
I look forward to setting out my values and vision for the Presidency over the coming days and continuing to engage with Councillors across the country.
pic.twitter.com/D8QF1h5ehA
— Gareth Sheridan (@GPSheridan1)
August 11, 2025
Sheridan's business case is that there are still many people, in the US particularly, who need these pain medicines for proper health-related reasons.
He believes the managed doses from his firm's patches is a unique selling point and a prevention of abuse and addiction.
He said that there's been an increase of American patients being told to use over-the-counter pain medication for illnesses, and claims his patches could be a safer and more appropriate option.
Pharmaceutical patches
Sheridan in April said acquisitions and mergers were 'the strategy' for the company.
Some of the previous owners from the purchased companies went on to join Sheridan and held positions at Nutriband for a short time. He explained, due to his own lack of expertise in pharmacology, he needed those who could help actually develop his ideas.
He added: 'It also kept us away from expensive money. I am able to retain today a good proportion of the company because we didn't do angel [investor] rounds, seed rounds. We didn't do the traditional route.'
News reports of the company's activities recently have focused on its newest patch, which
would deliver a proper prescribed dose of fentanyl
.
The firm is still in ongoing discussions with the US's drugs regulator, the Food and Drug Administration. In preparation for its approval, it has offered shareholders particular stock options to raise funds.
Success?
Nutriband is yet to generate any revenue. In its most-recent public quarterly report, at the end of October last year, it recorded a net-loss of $1.3m.
Speaking to The Entrepreneur Experiment in April, Sheridan said: 'In most public companies it's either one person makes a million dollars or, years later, dozens of people make multiple millions of dollars. So there's patience and trust involved.'
The Áras hopeful, who has stepped back as CEO from Nutriband to pursuit the election later this year, said he is certain the company will be worth a billion dollars in the future.
Sheridan said the firm has been careful not to waste any funding too: 'We've been very careful not to raise money that we don't need – money that is sitting in a bank account at the expense of shareholders [...] It's just little things like that.'
He told RTÉ Radio One yesterday that he believes Nutriband will still achieve that goal, with or without him. He said that he intends to have a stake in the firm, should he be placed on the ballot and elected President.
Sheridan said he is seeking to be nominated as a candidate to represent the interests of young people who feel that they must emigrate for work and other opportunities due to the housing situation here. He is due to announced his platform's values later this week.
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