The company boosted its outlook for the second consecutive quarter and said patients face waitlists for procedures using its devices.
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Abbott plans to win approval for a modified steerable product and bring it to market as a replacement for the recalled device.
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International market share gains and expanding coverage in the U.S. led the CGM maker to raise its revenue forecast for 2023.
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The FDA aims to address challenges including inaccurate self-reported drug use, missing data and the need to show the durability of the treatment.
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The pullback in spending will include layoffs and lower investments in some areas of the business, company executives said.
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GE warned that the sensors can limit the effectiveness of cardiac defibrillation, expose patients to electrical currents, or give inaccurate blood oxygen readings.
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