The importance of the biotech and pharmaceutical industries to our economy is indisputable. Even more important than the dollars and cents, are the life-saving medicines these companies are developing.
Patents don't generate revenues, the ideas they protect do. If your idea truly is something that hasn't been thought of before, than run with it for a while before you spend time trying to secure a patent.
Congress is responding to the companies who can afford to lobby and not bothering to seek the opinions of entrepreneurial inventors -- for whom the patent system was created over 200 years ago by a single sentence in the Constitution.