<?xml version="1.0"?><ownershipDocument><schemaVersion>X0101</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-07-01</periodOfReport><issuer><issuerCik>0000737207</issuerCik><issuerName>NASTECH PHARMACEUTICAL CO INC</issuerName>        <issuerTradingSymbol>NSTK</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001195983</rptOwnerCik><rptOwnerName>WENIG DEVIN</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>  </rptOwnerStreet1><rptOwnerStreet2>  </rptOwnerStreet2><rptOwnerCity>  </rptOwnerCity><rptOwnerState>  </rptOwnerState><rptOwnerZipCode>  </rptOwnerZipCode></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle></officerTitle><otherText></otherText></reportingOwnerRelationship></reportingOwner><nonDerivativeSecurity><securityTitle><value>Nastech Pharmacuetical Co. Common Stock</value></securityTitle><transactionDate><value>2003-07-01</value></transactionDate><deemedExecutionDate><value>2003-07-01</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>500</value></transactionShares><transactionValue><value>10</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>231653</value><footnoteId id="F2" /></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeSecurity><nonDerivativeSecurity><securityTitle><value>Nastech Pharmaceutical Co.Common Stock</value></securityTitle><transactionDate><value>2003-07-01</value></transactionDate><deemedExecutionDate><value>2003-07-01</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>500</value></transactionShares><transactionValue><value>10.01</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>231153</value><footnoteId id="F2" /></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeSecurity><footnotes><footnote id="F1">The sale was effected pursuant to a pre-planned Rule 10b5-1 trading program. </footnote><footnote id="F2">The amount of securities beneficially owned following reported transaction includes 166 shares held by Mr. Wenig's wife.</footnote></footnotes><ownerSignature><signatureName>Devin N. Wenig</signatureName><signatureDate>2003-07-02</signatureDate></ownerSignature></ownershipDocument>

