We report on a calculation of Higgs-boson contributions to the decays B_s -> l^+l^- and B -> K l^+l^- (l=e, mu) which are governed by the effective Hamiltonian describing b -> s l^+ l^-. Compact formulae for the Wilson coefficients are provided in the context of the type-II two-Higgs-doublet model (2HDM) and supersymmetry (SUSY) with minimal flavour violation, focusing on the case of large tan(beta). We derive, in a model-independent way, constraints on Higgs-boson-mediated interactions, using present experimental results on rare B decays including b -> s gamma, B_s -> mu^+ mu^-, and B -> K^(*) mu^+ mu^-. In particular, we assess the impact of possible scalar and pseudoscalar interactions transcending the standard model (SM) on the branching ratio of B_s -> mu^+ mu^- and the forward-backward (FB) asymmetry of mu^- in B -> K mu^+ mu^- decay. We find that the average FB asymmetry, which is unobservably small within the SM, and therefore a potentially valuable tool to search for new physics, is predicted to be no greater than 4% for a nominal branching ratio of about 6x10^{-7}. Moreover, striking effects on the decay spectrum of B -> K mu^+ mu^- are already ruled out by experimental data on the B_s -> mu^+ mu^- branching fraction. In addition, we study the constraints on the parameter space of the 2HDM and SUSY with minimal flavour violation. While the type-II 2HDM does not give any sizable contributions to the above decay modes, we find that SUSY contributions obeying the constraint on b -> s gamma can affect significantly the branching ratio of B_s -> mu^+ mu^-. We also comment on previous calculations contained in the literature.
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