Vincristine, DOXIL (Doxorubicin HCl Liposome Injection) and Dexamethasone vs. Vincristine, Doxorubicin, and Dexamethasone in Patients With Newly Diagnosed Multiple Myeloma

Inclusion Criteria:

* Untreated multiple myeloma requiring treatment
* Total cumulative dose of prior doxorubicin can not exceed 240 mg/m2
* Must have measurable disease
* Left Ventricular Ejection Fraction (LVEF) \>= 50 % determined by Multiple Gated Acquisition Scan (MUGA)
* Karnofsky performance status of \>= 60%
* Adequate bone marrow, liver and renal function
* Disease-free from prior malignancies \>= 5 years with the exception of basal cell or squamous cell carcinoma of the skin or carcinoma in situ of the cervix
* Female participants (if of child bearing potential and sexually active) and male participants (if sexually active with a partner of child-bearing potential) must use medically acceptable methods of birth control.

Exclusion Criteria:

* Life expectancy of \>= 3 months
* Pregnant or breast feeding
* History of cardiac disease, with New York Heart Association Class II or greater, with congestive heart failure
* or unstable angina, uncontrolled hypertension or cardiac arrythmias or myocardial infarction within the last 6 months
* Uncontrolled diabetes mellitus or systemic infection
* Nonsecretory myeloma, Monoclonal Gammopathy of Unknown Significance (MGUS) or smoldering myeloma
* Confusion, disorientation, or history of psychiatric illness which may impair patient's ability to give informed consent
* Prior chemotherapy to treat Multiple Myeloma
* Prior radiotherapy to an area greater than 1/3 of the skeleton
* Prior local radiotherapy within 1 week of treatment
* Any investigational agent within 30 days of the first dose of treatment
* Prior single agent dexamethasone (or another corticosteroid) to treat Multiple Myeloma.