Doxorubicin Hydrochloride Liposome, Bortezomib, and Dexamethasone in Treating Patients With Newly Diagnosed Multiple Myeloma

DISEASE CHARACTERISTICS:

* Diagnosis of multiple myeloma based on the following criteria:

  * Major criteria

    * Plasmacytomas on tissue biopsy (1)
    * Bone marrow plasmacytosis (\> 30% plasma cells) (2)
    * Monoclonal immunoglobulin spike on serum electrophoresis IgG \> 3.5 g/dL or IgA \> 2.0 g/dL and kappa or lambda light chain excretion \> 1 g/day on 24-hour urine protein electrophoresis (3)
  * Minor criteria

    * Bone marrow plasmacytosis (10% to 30% plasma cells) (a)
    * Monoclonal immunoglobulin present but of lesser magnitude than given under major criteria (b)
    * Lytic bone lesions (c)
    * Normal IgM \< 50 mg/dL, IgA \< 100 mg/dL, or IgG \< 600 mg/dL (d)
* Meets 1 of the following sets of diagnostic criteria:

  * Any two of the major criteria
  * Major criteria 1 and minor criteria b, c, and d
  * Major criteria 3 and minor criteria a or c
  * Minor criteria a, b, c, OR a, b, d
* Measurable disease, defined as a monoclonal immunoglobulin spike on serum electrophoresis ≥ 1 g/dL and/or urine monoclonal immunoglobulin spike ≥ 200 mg/24 hours, or evidence of lytic bone disease

  * No nonmeasurable disease (i.e., non-secretory or oligosecretory multiple myeloma)
* Symptomatic, newly diagnosed, and previously untreated multiple myeloma
* No POEMS syndrome (i.e., plasma cell dyscrasia with polyneuropathy, organomegaly, endocrinopathy, monoclonal protein \[M-protein\], and skin changes)
* No plasma cell leukemia

PATIENT CHARACTERISTICS:

* Karnofsky performance status 60-100%
* Life expectancy \> 3 months
* ANC ≥ 1,500/mm\^³ (≥ 1,000/mm\^³ if bone marrow is extensively infiltrated)
* Platelet count ≥ 75,000/mm\^³ (≥ 50,000/mm\^³ if bone marrow is extensively infiltrated)
* Hemoglobin ≥ 8.0 g/dL
* AST and ALT ≤ 3.0 times upper limit of normal (ULN)
* Serum bilirubin ≤ 2.0 times ULN
* Creatinine clearance ≥ 30 mL/min OR creatinine \> 10 mL/min and \< 30 mL/min for patients with significant myelomatous involvement of the kidneys
* Serum potassium ≥ lower limit of normal (LLN)
* Serum sodium ≥ LLN
* Not pregnant or nursing
* Negative pregnancy test
* Fertile patients must use effective contraception
* No prior malignancy within the past 5 years except basal cell or squamous cell skin cancer or carcinoma in situ of the cervix
* No peripheral neuropathy ≥ grade 2 within past 14 days
* No impaired cardiac function or clinically significant cardiac disease, including any one of the following:

  * Myocardial infarction within the past 6 months
  * New York Heart Association class II-IV heart failure
  * Uncontrolled angina
  * Clinically significant pericardial disease
  * Severe uncontrolled ventricular arrhythmias
  * LVEF below normal by ECHO or MUGA scan
  * ECG evidence of acute ischemia or active conduction system abnormalities

    * Screening ECG abnormality must be documented by the investigator as not medically relevant
* No severe hypercalcemia (i.e., serum calcium ≥ 14 mg/dL \[3.5 mmol/L\])
* No poorly controlled hypertension, diabetes mellitus, or other serious medical or psychiatric illness that could preclude study treatment
* No known HIV positivity or hepatitis B or C positivity

  * Baseline testing for HIV and hepatitis B or C is not required
* No history of allergic reaction attributable to compounds of similar chemical or biological composition to doxorubicin, bortezomib, boron, or mannitol

PRIOR CONCURRENT THERAPY:

* See Disease Characteristics
* No prior or concurrent anti-myeloma therapy except steroids

  * Prior prednisone for ≤ 4 days at a total of 400 mg (or an equivalent potency of another steroid) allowed
  * No concurrent corticosteroids (≥ 10 mg prednisone/day or equivalent) other than dexamethasone
* More than 4 weeks since prior major surgery and recovered

  * Prior kyphoplasty with oncotherapeutic drugs allowed at the investigator's discretion
* More than 4 weeks since prior immunotherapy, antibody therapy, or radiotherapy
* More than 14 days since other prior and no other concurrent investigational drugs