The present work entitled " Pressure Induced B1-B2 Phase Transition in Binary Solids" deals with the high pressure behaviour of alkaline earth chalcogenides, actinide arsenides and lanthanide chalcogenides. For this purpose the Born-Mayer type potential considered up to nearest neighbour and next nearest neighbour interaction is taken and the potential parameters are calculated separately for both B1 and B2 phase. An application of this potential model satisfactorily explains the phase transition pressure, high pressure compression behaviour, cohesive energy, bulk modulus and its first order pressure derivative as the calculated values comes out to be quite close to the available experimental data. Our calculated results for nearest neighbour separation for B1 and B2 phase also support the Born's stability criteria. At last it is emphasized that for the exact prediction of high pressure phase transition and elastic behaviour of 1:1 binary solids by using simple Born-Mayer type potential it is necessary to consider the different values of strength and range parameters in different phases.