The greatest common divisor (gcd) of two integers $a$ and $b$ can be computed with the Euclidean Algorithm.
With the gcd known, one can compute the least common multiple (lcm) via the formula $\mathrm{lcm}(a,b) = \frac{|ab|}{\gcd(a,b)}$. One can also compute the lcm directly using the prime factorization. But there is (as far as I know) no algorithm similar to the Euclidean algorithm that computes the lcm directly (without computing the gcd first).
My question is:
Why?
Is there any conceptual reason why there is an algorithm for computing the gcd but no algorithm for computing the lcm?
EDIT: As Prem's answer shows, there is an algorithm similar to the Euclidean Algorithm, but this algorithm has higher complexity. So the question is rather: Is there an algorithm with same complexity as the Euclidean algorithm, and if no, why?