DISEASE CHARACTERISTICS:

• Histologically or cytologically confirmed adenocarcinoma of the colon or rectum that is not amenable to potentially curative surgical resection
• Metastatic or locally recurrent disease
• Tumor in liver or lung accessible to needle biopsy by ultrasound or CT scan guidance

• At least 1 measurable lesion

  • At least 20 mm by conventional techniques, including physical examination, CT scan, or MRI OR
  • At least 10 mm by spiral CT scan
  • Lesions on colonoscopic examination or barium studies, bone metastases, CNS lesions, and ascites are not considered measurable
• Failed prior therapy with fluorouracil, leucovorin calcium, and irinotecan given either sequentially or in combination
• No known brain metastases

PATIENT CHARACTERISTICS:

Age:

• 18 and over

Performance status:

• ECOG 0-2

Life expectancy:

• At least 3 months

Hematopoietic:

• WBC at least 3,000/mm^3
• Absolute neutrophil count at least 1,500/mm^3
• Platelet count at least 100,000/mm^3

Hepatic:

• Bilirubin no greater than 1.5 mg/dL
• AST/ALT no greater than 2.5 times upper limit of normal

Renal:

• Creatinine no greater than 1.5 mg/dL OR
• Creatinine clearance at least 60 mL/min

Cardiovascular:

• No symptomatic congestive heart failure
• No unstable angina pectoris
• No cardiac arrhythmia

Other:

• Not pregnant or nursing
• Negative pregnancy test
• Fertile patients must use effective contraception
• No peripheral neuropathy greater than grade 1
• No other concurrent uncontrolled illness that would preclude study
• No concurrent psychiatric illness or social situation that would preclude study
• No ongoing or active infection
• No prior allergic reaction to compounds of similar chemical or biologic composition to oxaliplatin or gefitinib
• No other concurrent malignancy except non-melanoma skin cancer or carcinoma in situ of the cervix unless considered to be at less than 30% risk of relapse after completion of therapy

PRIOR CONCURRENT THERAPY:

Biologic therapy:

• No prior epidermal growth factor inhibitor
• At least 24 hours since prior colony-stimulating factors
• No concurrent colony-stimulating factors during first course of study therapy

Chemotherapy:

• See Disease Characteristics
• No more than 2 prior chemotherapy regimens for metastatic disease
• Prior adjuvant chemotherapy allowed
• At least 4 weeks since prior cytotoxic chemotherapy and recovered
• No prior cisplatin or oxaliplatin

Endocrine therapy:

• Not specified

Radiotherapy:

• At least 4 weeks since prior radiotherapy and recovered

Surgery:

• See Disease Characteristics
• At least 4 weeks since prior surgery

Other:

• At least 30 days since prior investigational agents
• Recovered from prior therapy
• No concurrent anti-retroviral therapy for HIV
• No other concurrent investigational or commercial agents or therapies for malignancy