Vatalanib and Octreotide in Treating Patients With Progressive Neuroendocrine Tumors

DISEASE CHARACTERISTICS: Histologically confirmed low-grade neuroendocrine tumors The following tumor types are excluded: Small cell lung cancer Medullary thyroid cancer Paraganglioma Pheochromocytoma Measurable disease Radiographic evidence of disease progression after completion of any prior systemic therapy, chemoembolization, bland embolization, or observation within the past year, defined as either of the following: Appearance of a new lesion At least 20% increase in the longest diameter (LD) of any previously documented lesion or an increase in the sum of the LDs of multiple lesions in the aggregate of 20% PATIENT CHARACTERISTICS: Age 18 and over Performance status ECOG 0-2 Life expectancy Not specified Hematopoietic Absolute neutrophil count ≥ 1,000/mm^3 Platelet count ≥ 75,000/mm^3 Hemoglobin ≥ 8.0 g/dL Hepatic Bilirubin ≤ 2.0 times upper limit of normal (ULN) AST ≤ 3 times ULN (5 times ULN if liver metastases are present) Renal Creatinine ≤ 1.5 times ULN Meets 1 of the following criteria: Urine protein negative by dipstick Urine protein:creatinine ratio < 1.0 Urine protein < 1 g by 24-hour urine collection Gastrointestinal Must be able to swallow tablets No ulcerative disease No uncontrolled nausea, vomiting, or diarrhea No bowel obstruction No other gastrointestinal tract disease resulting in an inability to take oral medication Other Not pregnant or nursing Negative pregnancy test Fertile patients must use effective contraception Must be able to receive a contrast-enhanced CT scan No known history of allergic reaction to vatalanib or its derivatives or octreotide injections PRIOR CONCURRENT THERAPY: Biologic therapy Not specified Chemotherapy At least 4 weeks since prior chemotherapy No more than 1 prior systemic chemotherapy regimen Chemoembolization is not considered systemic chemotherapy No concurrent chemotherapy Endocrine therapy Not specified Radiotherapy At least 3 weeks since prior radiotherapy No concurrent radiotherapy Surgery At least 4 weeks since prior major surgery Other At least 4 weeks since other prior systemic therapy At least 4 weeks since prior local liver therapy No prior anti-vascular endothelial growth factor agents No concurrent grapefruit or grapefruit juice No concurrent therapeutic warfarin or similar oral anticoagulants that are metabolized by the cytochrome P450 system Concurrent heparin allowed