The purpose of this study is to assess the safety and tolerability of pasireotide LAR in combination with everolimus in advanced metastatic gastroenteropancreatic or pulmonary neuroendocrine Tumors (NET).

Inclusion Criteria:

• Confirmed diagnosis of grade 1/2 advanced pulmonary or gastroenteropancreatic neuroendocrine tumor
• Progressive disease within last 12 months (only patients with nonfunctional tumors)
• Documented liver metastasis
• Measurable disease per RECIST determined by multiphase MRI or triphasic CT

Exclusion Criteria:

• Previous treatment with radiolabeled somatostatin analogs within 12 months prior to reporting baseline symptoms
• Previous treatment with mTOR inhibitors or pasireotide
• Patients who have any severe and/or uncontrolled medical conditions or other conditions that could affect their participation in the study
• Women who are pregnant or lactating

Other protocol-defined inclusion/exclusion criteria may apply