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This paper describes the effects of induced magnetic field and partial slip on the peristaltic flow of a couple stress fluids in an asymmetric channel. The two dimensional equation of couple stress fluid are simplified by making the assumptions of long wave length and low Reynolds number. The exact solutions of reduced momentum equation and magnetic force function have been computed in wave frame. The expressions for stream function, magnetic force function and pressure rise per wave length have been also computed. Finally, the pressure rise, pressure gradient, velocity, magnetic force function and stream lines for different physical parameters of interest are plotted.